Netflix shares drop 22% after it loses 200K subscribers

Friday, April 15, 2022, Vol. 46, No. 15

SAN FRANCISCO (AP) — Netflix's video streaming service suffered the first loss in worldwide subscribers in its history, deepening troubles that have been mounting since enjoying a surge from a captive audience locked down during the pandemic's early stages.

The company's customer base fell by 200,000 subscribers during the January-March period, according to a quarterly report released Tuesday. That was far worse than a conservative gain of 2.5 million subscribers forecast by Netflix management.