Netflix shares plunge over gloomy subscriber outlook
Netflix’s share fell nearly 20% on Thursday after being warned that subscriber growth was weak. The world’s largest streaming service is projected to add 2.5 million customers between January and March, less than half of analysts’ forecasts. Subscribers for the last quarter of 2021. Despite a healthy catalog of content such as hit show squid games and star-studded movies “Red Notice” and “Don’t Look Up,” subscriber growth slows. Netflix faces tough times Streaming rivals Disney and HBO are spending billions of dollars on creating new programming. Netflix acknowledged that competition could be affecting modest growth, but added that it is still growing in all countries where new streaming takes place. The option has started. The company reported revenue of $ 7.71 billion, which was in line with expectations.