This is more like a deadly blow on Netflix loosing 126,000 streaming subscribers in the second quarter. This appears to be the first time ever in the history of the streaming platform loosing such huge subscribers in the US.
Netflix however blamed its uninspiring results on subscription price increases and a less-enticing mix of movies and TV series.
Hours after Netflix announced it lost subscribers for the first time; the stock for the streaming giant had a terrible, horrible, no good, very bad day at market. Dropping over 10 points per share down to $325.21 by the end of trading Thursday, Netflix lost upwards of $17 billion in market value. That’s not a typo — that’s billion, not million. Netflix just essentially lost $17 billion dollars the very first time it lost subscribers.
Subscribers are looking for a better cheaper alternative to NetFlix just like they are doing to MultiChoice DStv, no wonder why Netflix is considering introducing a mobile-only plan which price is less than $5. The mobile-only plan will initially launch in India before considering other countries.
What will Netflix do differently to change the narratives?
They should do and launch the mobile only plan on other countries before things get worse.
After canceling great shows for no good reason, why wont they loose subscribers? Daredevil, Punisher, Luke Cage, etc
don’t mind them, they cancel important shows, and competitors are really working hard on their loopholes. Disney is launching in few weeks from now, im sure they’ll still loose subscribers
I just don’t have that type of money to spend on Netflix when there’s enough mod
Was hearing so much good from Netflix I am sorry for their struggles. Stands to reason that having the lion share of any market should not embolden people to neglect the satisfaction of those loyal customers. Let others learn from this.
This is huge
Soory for them.
Bad torí everywhere. May God help them
Not a good news for them at all
Their contents are getting meaningless. I wasted almost 300mb on that ‘I am a mother useless movie’