Netflix stock fell more than 10 percent after the market closed Wednesday, following the company's announcement that for the first time since launching its digital service eight years ago, it saw a drop in U.S. subscribers.
In the second quarter, Netflix lost 126,000 paid U.S. subscribers, and also only added 2.7 million subscribers worldwide, far below the five million investors expected. With its hit show Stranger Things now streaming new episodes, Netflix expects to add more than seven million subscribers during the current quarter. Right now, there are more than 60 million U.S. subscribers.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Today's political cartoons - January 20, 2025Cartoons Monday's cartoons - swearing in, do not pass go, and more
-
Will Trump's 'madman' strategy pay off?Today's Big Question Incoming US president likes to seem unpredictable but, this time round, world leaders could be wise to his playbook
-
The long road ahead to rebuild life in GazaThe Explainer As the Israel-Hamas ceasefire takes effect, Palestinians return to find 90% of homes destroyed, health and water infrastructure in ruins, and acute food poverty
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
-
Biden expected to block Japanese bid for US SteelSpeed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
-
Rupert Murdoch loses 'Succession' court battleSpeed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
-
Bitcoin surges above $100k in post-election rallySpeed Read Investors are betting that the incoming Trump administration will embrace crypto
-
Enron mystery: 'sick joke' or serious revival?Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
-
US charges Indian tycoon with bribery, fraudSpeed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
