Hugh: Netflix Stock Drops 11 Percent After Posting Decline in Subscribers

On Wednesday, Netflix revealed that the amount of Americans subscribing to the streaming service had declined for the first time in nearly a decade. The Wall Street Journal reports that the disappointing news led to an 11 percent drop in the company’s stock price in after-hours trading. As The Journal points out, the letdown comes at an especially ill-opportune time for the streaming giant, as “a slew of rivals are about to enter the field” and Netflix is about to lose its two most-watched shows, The Office and Friends.

 

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