Netflix suffered its first subscriber loss in more than a decade, causing its shares to plunge 25% in extended trading amid concerns that the pioneering streaming service may have already seen its best days.
SAN FRANCISCO —
If the stock drop extends into Wednesday’s regular trading session, Netflix shares will have lost more than half of their value so far this year — wiping out about $150 billion in shareholder wealth in less than four months. Netflix absorbed its biggest blow since losing 800,000 subscribers in 2011 — the result of unveiled plans to begin charging separately for its then-nascent streaming service, which had been bundled for free with its traditional DVD-by-mail service. The customer backlash to that move elicited an apology from Netflix CEO Reed Hastings for botching the execution of the spin-off.
Netflix has previously predicted that it will regain its momentum, but on Tuesday faced up to the issues bogging it down. “COVID created a lot of noise on how to read the situation," Hastings said in a video conference reviewing the latest numbers. To stop the practice and prod more people to pay for their own accounts, Netflix indicated it will expandthat allows subscribers to add up to two people living outside their households to their accounts for an additional fee.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Netflix stocks plunge 25% after streaming service loses 200K customersDrop stems partly from company's decision to suspend service in Russia to protest war in Ukraine, but deeper problems exist.
Baca lebih lajut »
Netflix shares drop 25% after service loses 200K subscribers'If the stock drop extends into Wednesday’s regular trading session, Netflix shares will have lost more than half of their value so far this year — wiping out about $150 billion in shareholder wealth in less than four months.'
Baca lebih lajut »
Netflix shares drop 25% after service loses 200K subscribersInvestors had already been bailing out of the company’s once high-flying stock amid a dramatic slowdown in subscriber growth.
Baca lebih lajut »
The 25 Best Mineral Sunscreens, According to DermatologistsFor every day and every body.
Baca lebih lajut »
Chiral gold nanoparticles increase vaccine efficacy by more than 25%, study suggestsVaccines can be made over 25% more effective by adding left-handed chiral gold nanoparticles as adjuvants, according to a study by an international collaboration in which Brazilian researchers took part. An article reporting the results is published in Nature.
Baca lebih lajut »