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Netflix loses almost 200k users for the first time in a decade

Netflix loses almost 200k users for the first time in a decade

Netflix shares drop 25% after the streaming service loses 200k subscribers in Q1 for the first time in 10 years since 2011.

Netflix expects to lose two million more customers in the second quarter of 2022, according to a statement issued on Tuesday, marking its worst year ever since the company’s listing.

Netflix’s management attributed the decline to several reasons, including spread of password sharing, the increase in competition, and the economic conditions in the world.

Read more: Netflix suspends its services in Russia

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