It records a loss of 200 K subscribers globally, and the share price consequently collapses by 20%
According to the company’s management, this collapse would be due to sharing access data.
Before the crash, Netflix predicted a gain of 2.5 million net subscribers in the first quarter of 2022. And now it may face a global subscriber loss of two million for the second quarter. In addition, due to the suspension of service in Russia after the invasion of Ukraine, the company lost another 700,000 members.
“We plan to reaccelerate our growth by improving all aspects of Netflix, especially the quality of our programming and recommendations, which is what our subscribers value most,” the management said.
All that remains is to wait.