Netflix reported the loss of 50 billion dollars, this as a result of the drop in subscribers that keeps the company alert.
Netflix suffered a 35% drop in its value on the stock market. Market studies carried out by the company’s experts warned that, following the suspension of 200 thousand users, 2 million more are expected to leave the platform.
It seems that the problems for the streaming platform with the most subscribers to date do not stop. And it is that since the announcement of its first loss in the last decade it has seen a nosedive It brings nothing but negative effects.
Only yesterday, the Co-CEO of the company announced in a press conference that methods were being evaluated to offer cheaper fares. This through the addition of ads, however this preliminary solution does not seem to help.
It is evident that this obstacle will be difficult to overcome, especially since the latest updates, incorporated and to come, have kept users quite uneasy. Even Elon Musk, the richest businessman in the world, dared to comment on the facts and lashed out with a very unfriendly Twitter comment.
“The waking mind virus is making Netflix unwatchable.” He told her a few hours ago. Using the concept of virus woke , which refers to the tendency of new film productions not to offend any community or minority. According to Musk this infected the industry.
The woke mind virus is making Netflix unwatchable
— Elon Musk (@elonmusk) April 20, 2022
Why is Netflix losing subscribers?
The resounding loss of subscribers immediately generated consternation in some of the platform’s investors. This led to its value on Wall Street falling by 35% in less than a day.
This percentage means a loss, now confirmed, of more than 50 billion dollars in capitalization. And of course, as a side effect The actions of other platforms that provide streaming services were also affected. Among them Paramount, Warner Bros Discovery, Disney and Roku,
This consequence, appreciates in the drop of Nasdaq, the US multinational financial services company. Although it was already causing problems due to different macroeconomic factors, it fell once more dragged by Netflix. This is reported by the Financial Journal.
Nevertheless, the company assures that it was something that was seen coming. It is not the first time that a technology company has recorded such a large drop, not long ago Facebook went through a similar situation. Last year it had lost 1 million users in a quarter and its shares were down 25% percent.
