Netflix Loses Subscribers in Latest Streaming Drama
For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It's completely free and we guarantee you'll learn something new every day.
Two years ago, Netflix was on top of the world. Public health restrictions turned binge-watching into a popular endurance sport, earning the streaming giant earned pandemic darling status and 37 million new subscribers in 2020.
All of that ended in a shocking reversal of fortune reminiscent of Seinfeld's series finale (now streaming on Netflix, thanks to a $500 million deal in 2019). On Tuesday, the company reported its first quarterly subscriber loss since 2011, falling shockingly short of its own forecasted gain of 2.5 million subscribers.
Source Fool.com
