Netflix Loses Subscribers For The First Time In More Than 10 Years

The Lede

Netflix has reported a decline in subscribers for the first time in over a decade after losing 200,000 paid users in the first quarter of the year, and is exploring the possibility of introducing lower-priced, ad-supported subscription tiers to the platform.

Key Details

• Shares of Netflix dropped more than 25 percent after the company announced the news on Tuesday.
• Netflix expects a loss of two million global paid subscribers in the second quarter. The last time the streaming platform lost subscribers was October 2011.
• The company has cited increased competition, password sharing, inflation and Russia's invasion of Ukraine as factors contributing to the decline.

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