This week has been a tough one for Netflix, as for why, the streaming platform outlined in a letter given to shareholders this week that they had lost around 130,000 subscribers in the United States for the second quarter.
This may not seem like such a big deal on the face of it, however, this was the first big loss for the company since its creation. This, of course, wasn’t received well, in fact, the streaming giant’s stock price fell through, consequently seeing a $17 billion loss in the company’s market value.
Having said this, the US subscribers weren’t the only cause. A part of the problem has to be put down to the lack of growth that Netflix saw internationally. Raking in 2.8 million subscribers in the second quarter of 2019, as opposed to the 5 million subscribers they picked up in the first quarter.
Don’t feel bad for them though, in fact, this record-breaking loss still sees Netflix stand at $142 billion. I guess we will have to wait and see what they do from here.
