The Netflix streaming service provider has seen about 200,000 fewer subscribers in the first quarter of this year and is expected to lose another two million in the second quarter.
The Russian army asked the Ukrainian forces in Mariupol to surrender
According to their January report, they had 221.84 million subscribers at the end of last year. According to figures recently released on Tuesday, the number of subscribers fell to 221.64 million between the beginning of January and the end of March, when Bridgerton’s second season and The Adam Project series began.
In ten years, this is the first quarter that the streaming company has lost subscribers. Excluding the outage caused by a service shutdown in Russia due to the invasion of Ukraine, they would have had about 500,000 more subscribers in the first quarter, the film magazine Variety.com quoted the report as saying.
Previously, the company had 2.5 million extra subscribers for the first quarter, with Wall Street analysts expecting an additional 2.8 million new subscribers worldwide, up from 3.98 million in the first quarter last year. Although smaller growth was expected in the first place, the fact of the loss was shocking. The company also mentions increasing competition and password sharing in its report, with Netflix planning to cut back on the latter.
According to the news, the value of Netflix shares in post-closing trading fell more than 22 percent.
MTI
