Financial TimesFinancial Times

Netflix sheds subscribers for the first time in a decade

By Christopher Grimes

20 Apr 2022 · 2 min read

Netflix said its decade-long run of subscriber growth ended in the first quarter and admitted it was becoming “harder to grow membership” in many markets, sending its shares down nearly 40 per cent on Wednesday.

The video streaming pioneer shocked investors by forecasting that its number of subscribers would fall by another 2mn in the current quarter, to about 219.6mn, after declining about 200,000 in the first quarter. Investors had expected an increase of 2.6mn subscribers.

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