Streaming service Netflix said it dropped more than 200,000 subscribers in the first quarter of 2022. The platform began to lose its audience for the first time in ten years.
Netflix expected to reach 2.5 million subscribers in the first quarter of 2022 but missed that target. The suspension of business in Russia resulted in the loss of 700,000 subscribers. In addition, 600,000 customers in the US and Canada have opted out of renewing their Netflix subscription due to recent price increases.
Company representatives claim that the loss of subscribers was expected and in line with expectations, but even this statement did not save the value of the securities – immediately after the publication of data on a decrease in the number of subscribers, Netflix shares collapsed by 25%.
In the second quarter of 2022, Netflix expects to lose about 2 million paid subscribers. Now the platform is preparing a new, more affordable tariff with ads.
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