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Netflix Subscribers Drop For T...

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Netflix Subscribers Drop For The First Time In A Decade

Fionnuala .Jones
Fionnuala .Jones

12:08 20 Apr 2022


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Netflix has suffered a loss of subscribers for the first time in more than a decade.

The streaming giant contributed the drop to inflation, the war in Ukraine and fierce competition, while predicting further subscriber losses.

A man holds a remote control and selects a film from Netflix in October 2017.

The company said it lost 200,000 subscribers in its first quarter, falling well short of its forecast of adding 2.5 million subscribers.

Suspending service in Russia after the Ukraine invasion resulted in the loss of 700,000 members.

Netflix, which currently has 221.6 million subscribers, last reported losing customers in October 2011.

The news comes as the company looks to generate additional revenue from customers who share their account with friends or family outside their home.

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