Netflix’s Stock Situation: What It Spells For The Future Of Streaming
Netflix, the platform seen as the ‘OG streaming service’, was not immune to the current economic climate. On April 18th, stock for the company was down 35%, losing $54 billion in market cap. It was also outlined in their first quarter letter to their shareholders for the year that they are continuously losing subscribers, 200 000 in fact. That’s the first time this has happened to them in a decade. With all this in mind, plus the handful of other streaming services now in the market, what does this mean for Netflix, and perhaps, the streaming industry as a whole? We were joined by Dr Paul Crosby, Senior Lecturer of Economics at Macquarie University, to discuss the situation.