/ 21 July 2022

Netflix stems the flow

WEATHER (2)

Streaming giant Netflix posted its biggest-ever loss of subscribers after shedding 970,000 of ’em in the April-June quarter. It follows the company’s loss of 200,000 subscribers during the first 3 months of the year – the first time the company went backwards after a decade of growth. Global cost of living pressures and tough competition are taking a toll, but analysts say the latest season of Stranger Things released this month probably saw many viewers stick around. The show has become the streamer’s 2nd show after Squid Game to pass the 1 billion hour viewing milestone. That’s a lot of sofa time… Investors didn’t mind the update with the share price jumping 5.6% – news that there’s a clamp down on shared accounts coming would have helped with that…

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