Shares of Walt Disney (NYSE: DIS) fell 5.6% on Wednesday after Netflix's (NASDAQ: NFLX) declining subscriber figures sparked concerns of intensifying competition in the streaming arena.
Netflix lost 200,000 subscribers in the first quarter. The streaming pioneer said the launch of new streaming services from traditional entertainment companies was a key reason for its slowing growth.
Worse still, Netflix warned that its subscriber losses could expand to 2 million in the second quarter.
Source Fool.com