Netflix shares tumble as company reveals drop in subscribers, plans for ads, and price increases for account sharers
Shares in Netflix plummeted by more than a fifth after the streaming company reported a drop in subscriber numbers for the first time in more than a decade. In the first quarter of 2022, Netflix lost 200,000 subscribers and the prediction is for things to get much worse over the rest of the year.
For those subscribers who are sticking around, there is a double whammy of bad news. Not only is there the threat that Netflix will introduce advertisements, but also that it will charge higher subscription fees to anyone who shares their account with others.