Netflix shares fell more than seven percent on Wednesday as the broadcaster faced more bad news about subscriber expectations; that includes a new study showing that long-time Netflix customers are declining in greater numbers.
Another study found that consumer interest in Netflix’s original content lags behind the competition.
Shares of far-left Netflix fell more than seven percent Wednesday, and Amazon and Walt Disney did. Co. It fell even more hours later amid widespread market sales that hit other tech and entertainment stocks.
Wednesday’s losses mean Netflix shares are down a staggering 70 percent for the year.
As Breitbart News reports, Netflix is seeing an increase in the number of loyal customers canceling their subscriptions, indicating a new threat to the left-wing broadcaster’s financial stability.
The Netflix riot is gaining momentum as the publisher reports that it has fired an unidentified employee after confidential data about comedian Dave Chappelle was leaked to a news outlet. https://t.co/g7OmHF23Ws
– Breitbart News (@BreitbartNews) October 16, 2021
Data from research firm Antenna showed that consumers who have been Netflix subscribers for more than three years accounted for only 5 percent of total abandonment at the start of 2022, but that number increased to 13 percent in the first quarter of 2022.
A separate study showed a decline in consumer interest in Netflix original content.
As reported by Business Insider, Parrot Analytics said in its quarterly release report that the rise in global demand for original Netflix series stalled over the past year as competitors boost their game.
“As demand for original Netflix content and the entire catalog continues to decline nationally and globally, and demand for originals on other services continues to decline, Netflix needs to refocus its content strategy to get the most out of every episode ordered,” Parrot said. report. Analytical.
Netflix is now facing legal action from shareholders, who accused executives of misleading the public about the company’s subscriber growth.
Source: Breitbart
