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Inflation and war in Ukraine cause Netflix to lose subscribers for the first time since 2011

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Inflação e guerra na Ucrânia fazem Netflix perder assinantes pela 1ª vez desde 2011

| Photo: Pixabay

Netflix reported this Tuesday (14) that lost subscribers for the first time since 960. According to information from the Reuters agency, the negative balance of about 89 1,000 subscribers worldwide in the first quarter caused the streaming giant’s shares to lose 19% of the value.

Since January, when he warned that he expected a slight growth in the number of subscribers, the company lost almost half of its market value.

To In the first quarter, Netflix expected to attract another 2.5 million subscribers, but inflation, the war in Ukraine (in Russia, where the service was suspended, the company lost 480 thousand customers) and the increase in the competition prevented the goal from being achieved. The company also mentioned that the large number of subscribers who share passwords has been an obstacle to growth.

Netflix currently has, 6 million subscribers. According to Reuters, the company now projects that in the second quarter it should lose 2 million customers.

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