Disney Wants to Overtake Netflix With This 1 Move
Streaming services are in trouble. Because most launched around the time of the pandemic, the subscriber growth they achieved skewed expectations. With life returning to normal for most, the need or even the desire to sit around and just watch videos has been greatly diminished.
That was seen most vividly in Netflix's (NASDAQ: NFLX) results earlier this year when it recorded a loss of 200,000 subscribers -- the first loss in over a decade -- and forecast it would lose another 2.5 million to 4 million subscribers in the second quarter.
Well, it just reported earnings and the streaming giant lost "only" 1 million subscribers. Certainly much better than expected, but also the largest quarterly loss of viewers in the company's history. Netflix stock has lost two-thirds of its value so far this year, plunging from $600 a share to just above $200 a share.
Source Fool.com
