5 a.m. news – Netflix loses subscribers for the first time in ten years

200,000 subscribers lost worldwide in the first quarter compared to the end of 2021. This is a first for Netflix in more than ten years and it sent the action plummeting on Wall Street. The streaming giant explained that this drop was mainly related to the difficulty in acquiring new subscribers in all regions of the world, but also at the suspension of service in Russia.

The industry pioneer had inflated numbers during the Covid-19 pandemic. The market expected a correction, but not as strong. Its title fell by 26% in electronic trading after the closing of the New York Stock Exchange. Netflix planned to win 2.5 million additional subscribers and analysts expected even more, but has, on the contrary, lost, bringing its total to 221.64 million subscriptions precisely.

« The suspension of our service in Russia and the gradual decrease in the number of Russian paying subscribers resulted in a net loss of 700,000 subscriptions. Without this impact, we would have had 500,000 additional subscriptions » compared to the last quarter, the company said. California in its earnings release.

More recently, the American group undertook to tighten the screw on the side of the sharing of identifiers, which allows many people not to pay for access to the platform. Netflix thus announced at the beginning of March that it was going to carry out tests in South American countries to pay its customers for adding additional profiles on their account.

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