Why Netflix’s Shocking Subscriber Loss Is a ‘Body Blow’ to Streaming Giant

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The once high-flying stock collapsed as a drop in subscribers, lowered revenue, and execs presented no clear plan to turn that around quickly

Netflix stock price April 20, 2022, Netflix (Google/Netflix)
Netflix stock price April 20, 2022, Netflix (Google/Netflix)

The rallying cry “I cut the cord” that defined a generation of binge watchers and movie addicts is over.

Netflix is hemorrhaging subscribers at a pace that blindsided Hollywood and sent Wall Street diving for cover on Wednesday. The streamer’s first-quarter earnings report revealed the decade-long run of meteoric growth in subscribers gave way to a net decline of 200,000 customers when Netflix forecast it would add 2.5 million signups.

The disappointing subscriber signups weren’t just contained to one region — but worldwide. And that marks an inflection point for a company that once thought it would rule the U.S. market, and then dominate key regions around the globe before competitors emerged.

Co-CEOs of Netflix Reed Hastings and Ted Sarandos (Netflix)
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