Apr 20, 2022

Netflix loses subscribers for first time in more than 10 years

Image source, LIAM DANIEL/NETFLIX. The number of Netflix subscribers has fallen for the first time in more than a decade. The streaming company lost 200,000 members in the first three months of the year, the company said on Tuesday. It said it expected to shed two million subscribers in the three months to July."Our revenue growth has slowed considerably as our results and forecast below show," the company said in a letter to shareholders as it released its quarterly results. The last time the company lost members in a quarter was October 2011. Shares in the company plunged more than 20% in after-hours trading in New York following the news.

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