👑 Is Netflix’s Numero Uno Position Under Threat?
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👑 Netflix: Crown Slipping Off?
The inevitable has happened. In 10 years, streaming giant Netflix Inc. (NFLX) lost subscribers for the first time. It expects to lose more in the current quarter. The usual suspect reasons were proffered to justify the damage. But the question is, can Netflix win its own Squid Game? (Tweet This)
A Tale Dark and Grimm
Netflix had added 8M+ accounts in Q4 2020. In Q1 of 2021, it had added 4M accounts. It had projected to add 2.5M subscribers in Q1 2022. When push came to shove, forget adding subscribers, Netflix lost 200K subscribers in Q1 2022. The last time it lost subscribers was in October 2011, when it lost 800K subscribers.
The company wants investors to believe that, among other things, the Russian invasion of Ukraine was the reason for this loss of subscribers. So here’s how Q1 stacked up.
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