Netflix loses 2 lakh subscribers in 3 months?

During the first quarter of this calendar year, Netflix lost about 2,000 subscribers. A host of factors, such as geopolitical tensions, the war in Ukraine, inflation, fierce competition, and even some disruptions related to Covid, have contributed to Netflix's loss of 2,00,000 subscribers in the first quarter of this year.

On Tuesday, the company's stock price plummeted 26 percent, wiping out more than $40 billion from its market value.

The company has predicted a loss of 2 million subscribers in the coming quarter.  Netflix also cited increasing competition from other streaming services and even traditional television as a likely reason for its slow growth in the quarter.

CEO Reed Hastings hinted that the company could experiment with an ad-supported, lower-priced version of its service going forward, a model that has been used by some of its key rivals like HBO Max and Disney+.

In addition, Netflix said it is looking for ways to monetize millions of accounts shared among households.

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