For the first time since 2011, Netflix lost U.S. subscribers - Global News

On Wednesday, Netflix revealed its slowest growth period to date in a 2019 quarterly earnings report.In the streaming service’s second fiscal quarter, from April to June, Netflix’s overall paid memberships grew by 2.7 million, which may sound like a lot, but that figure is less than half of the 5.5 million users the company drew in this time last year.For the first time since 2011, the worldwide streaming giant saw a loss in paid subscribers, with a decrease of around 130,000 individual accounts, as reported by the Hollywood Reporter.As a result of the drop, shares in the company fell by 11 per cent in pre-market trading on Thursday morning.WATCH: Netflix stocks plunge

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July 19, 2019 at 01:54AM