The suspension of service in the country has led to the loss of 700,000 subscribers

American streaming service Netflix has seen a massive loss of $40 billion in market capitalization after the company reported its first customer decline in more than a decade.

The company said the number of subscribers in its first quarter dropped by 200,000, falling well short of its forecast of adding 2.5 million subscribers. The suspension of service in Russia over the Ukraine conflict led to the loss of 700,000 users.

The abrupt shift in fortune for the streaming platform comes after months of success during strict pandemic-related lockdowns. Netflix has lost nearly half of its value since January, when the firm warned of weak subscriber growth.

The company expects deeper losses ahead, as inflation and fierce competition contribute to a heavy decline in the number of users apart from the Russia exit. The streaming platform forecasts it would lose two million subscribers in the spring quarter.
Netflix is reportedly contemplating offering a lower-priced version of the service with advertising to tackle lagging subscriber growth. Similar offerings from rivals HBO Max and Disney+ have proved to be a hit.

“Those who have followed Netflix know that I’ve been against the complexity of advertising, and a big fan of the simplicity of subscription,” Netflix CEO Reed Hastings said as quoted by Reuters. “But, as much as I’m a fan of that, I’m a bigger fan of consumer choice.”

The declines hit other video streaming-related stocks, with Roku dropping over 6%, Walt Disney falling 5% and Warner Bros Discovery down 3.5%.
https://www.rt.com/business/554212-netflix-value-drops-russia-exit/

Fake news for Russian bots specially delivered by Russia Today(RT) aka Putin Mouthpiece.

Imagine Russia whose total IT economy is not more than $25 billion claiming responsibility for $40
billion dollar loss?

Moreover, Netflix should be the one crying, not Russia.

Na so the news fake ukrain special forces de inside bottle now

ivolt:
Fake news for Russian bots specially delivered by Russia Today(RT) aka Putin Mouthpiece.

Imagine Russia whose total IT economy is not more than $25 billion claiming responsibility for $40
billion dollar loss?

Moreover, Netflix should be the one crying, not Russia.

Lack of education and basic knowledge is a big problem, improve yourself and don't just open your mouth Everytime, google is free to use

You need to see how it tanked real bad after AH yesterday. My guys holding NTFX deh cry like this.

ivolt:
Moreover, Netflix should be the one crying, not Russia.

the above is exactly what this post is about.

The loss has increased to $55b today