Netflix loses almost a million subscribers in three months – BBC News

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BBC News published this video item, entitled “Netflix loses almost a million subscribers in three months – BBC News” – below is their description.

Netflix lost almost 1m subscribers between April and July, as the number of people quitting the service accelerated.

But that was not as many as the streaming giant had feared, with the firm’s chief executive, Reed Hastings, saying that popular shows such as Stranger Things may have prevented a further slide in subscriptions.

The company reported its first subscriber loss since 2011 in April, news that was followed by hundreds of job cuts and a sharp drop in its share price.

#Netflix #BBCNews

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About This Source - BBC News

The video item below is a piece of English language content from BBC News. The British Broadcasting Corporation (BBC) is a British public service broadcaster funded by the UK Government, and British license fee payers. Its headquarters are at Broadcasting House in Westminster, London.

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Netflix, Inc. (NASDAQ: NFLX) is an American technology and media services provider and production company headquartered in Los Gatos, California. Netflix was founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California.

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Wilmot Reed Hastings Jr. is an American businessman. He is the co-founder, chairman, and co-chief executive officer of Netflix, and sits on a number of boards and non-profit organizations. A former member of the California State Board of Education, Hastings is an advocate for education reform through charter schools.

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