For the first time in ten years, Netflix lost subscribers.
According to a report, the streaming platform lost 200,000 subscribers globally and from the looks of things, more losses are to come over the next months.
Its decision in early March to suspend services in Russia saw a loss of 700,000.
As a matter of fact, Netflix believes it could lose 2 million subscribers by the end of the second quarter. Despite the loss, Netflix remains the largest streaming platform with 222 million subscribers.
Netflix believes the rise of competition and the sharing of passwords are part of the dip in subscribers.
It comes as the company’s stock plunged by 23 percent in after-market trading.
Meanwhile, its rivals Roku fell by 6 percent, Walt Disney by 4percent and Warner Bros by 2 percent.
Are you still a fan of Netflix? What would make you leave Netflix?
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