What’s next for Netflix
News Netflix
Netflix rocked by subscriber loss, may offer cheaper ad-supported plans
Netflix said inflation, the war in Ukraine and fierce competition contributed to a loss of subscribers for the first time in more than a decade and predicted more contraction ahead, marking an abrupt shift in fortune for a streaming company that thrived during the pandemic.
Netflix's 26 per cent tumble after the bell on Tuesday (Apr 19) erased about US$40 billion of its stock market value. Since it warned in January of weak subscriber growth, the company has lost nearly half of its value.
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