Streaming giant Netflix has lost subscribers for the first time in more than 10 years, driven by factors such as increased competition, the ongoing conflict in Ukraine, and account sharing across non-paying households, the company announced on April 19.
The American subscription streaming service told investors that it lost 200,000 members globally in the first three months of the year, and warned that more losses are expected in the next three months to July.
Netflix had previously forecasted it would add 2.5 million paying customers but the company told investors that it expects to lose 2 million global subscribers in the current quarter.
The last time the company lost members in a quarter was October 2011.
…