TV entertainment – ​​Limited to just streaming, Netflix is ​​losing its footing to media giants

– Limited to streaming alone, Netflix loses ground against media giants

For the first time in a decade, Netflix has lost 200,000 subscribers. The performance was violently sanctioned by Wall Street investors.

Published today at 7:00 p.m.

For the past few months, the atmosphere at Netflix must not have been good in view of the masterful fall in the group’s shares.

AFP

On November 17, 2021, Netflix closes its session at $691.69. A historic stock market record for the streaming platform which then appeared untouchable in the midst of a pandemic. Five months later, after having lost a first quarter of its value at the start of the year, the stock plunged again. On Wednesday, April 20, 2022, around 6 p.m., Netflix stock collapsed 37% and was worth only $220.

Wall Street’s punishment is severe. It is at the height of a so-called growth society which is now struggling to grow. Because for the first time in a decade, Netflix has lost 200,000 subscribers. The disappointment of the markets is all the greater as investors expected an increase of approximately 2.5 million new customers over the past three months. And the fact that Netflix expects this downward trend to continue for the coming quarters does not help matters.