Digital media (OTT) platform Netflix has suffered a major setback in the March quarter. Netflix has lost nearly two lakh subscribers, due to which the company’s shares were down 25 percent. Let us tell you that this is the biggest loss to Netflix during the last decade.
started 6 years ago
According to the quarterly earnings report released on Tuesday, the company’s subscriber base declined by two lakh during the January-March period. This is the first time that such a decrease in the number of subscribers of the company has been registered after the launch of Netflix’s service. Six years ago, Netflix, a company providing entertainment on digital platforms across the world except China, was started.
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reason for decline
Significantly, the company had announced the end of its business with Russia against the Ukraine war, due to which its number of customers had fallen by seven lakhs. Netflix anticipates losing two million subscribers during the April-June period. At the same time, recently the company has also increased the prices of its plans.