The loss of 200,000 subscribers from January to March of this year represents Netflix's first drop of viewers in a decade for the company.
SAN FRANCISCO — Netflix suffered its first subscriber loss in more than a decade, causing its shares to plunge 26% in extended trading amid concerns that the pioneering streaming service may have already seen its best days.
If the stock drop extends into Wednesday’s regular trading session, Netflix shares will have lost more than half of their value so far this year — wiping out about $150 billion in shareholder wealth in less than four months. The setback follows the company’s addition of 18.2 million subscribers in 2021, its weakest annual growth since 2016. That contrasted with an increase of 36 million subscribers during 2020 when people were corralled at home and starved for entertainment, which Netflix was able to quickly and easily provide with its stockpile of original programming.
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