Netflix’s shares dropped by nearly 40% today. It announced on Tuesday that it lost subscribers for the first time in more than a decade. The company says the easing of the pandemic was partially to blame for the losses — plus inflation as people were trying to cut household costs. Shares for the other streamers are also down today.
Can Netflix bounce back? Stock cratered, subscribers canceled
Netflix announced on Tuesday that it lost subscribers for the first time in more than a decade. Photo by Shutterstock.
Credits
Guest:
- Matt Belloni - founding partner of Puck News and regular contributor to KCRW’s The Business - @MattBelloni