The losing streak continues: Netflix loses $54 billion as it plummets on the stock market

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It seems that things in the largest company of streaming platforms have not gone well in recent months, because after announcing a drop in the number of subscribers for the first time, now Netflix continues with the losing streak, because its value in the stock market it has suffered a great blow, and it is reflected in the $54 billion dollars that they lost.

Then a stage in which Netflix numbers began to rise due to the health crisis, and that everyone began to turn to streaming platforms and their content to spend some time entertaining from home. The increase in prices began to attract the attention of some of his subscribers.

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The company founded by Reed Hasting announced a few days ago that they had lost an amount of 200 thousand subscribers in the first months of 2022, in addition, they foresee that in the following months they will lose a total of 2 million. According to new reports from ComicBook, the streaming platform has lost 35 points on the Wall Street stock market, closing with $226.19 US dollars per share.

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This is the first time that Netflix has gone through a crisis of such magnitude, however, specialists mention that, although competition with Disney +, HBO Max, and Amazon Prime Video has diversified the streaming market, the numbers of the red giant have concerned company executives.

The causes of the loss of Netflix subscribers

For this reason, Reed Hasting sent a statement where he mentions: “I know it is disappointing for investors, and that is clear. But internally, we’re really ready, and this is our time to shine. This is when everything matters. And we are super-focused on achieving those goals and getting back in good hands with our investors.”

In another statement, Netflix mentions that one of the main causes that has caused the loss of subscribers is the feature of sharing passwords with multiple households on the same account. Faced with this possibility, the company had confirmed a few months ago that they were trying to permanently remove this capacity.

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Given the drop in numbers, some subscribers have complained about the constant rise in prices in their plans, the cancellation of some of the most acclaimed series, original content, and the increasingly repetitive offer of productions on the streaming platform. Netflix. In addition, other services are increasingly betting more heavily, and the giant will have to take action if it wants to keep its position.

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