It's the first time that Netflix's subscribers have fallen since the streaming service became available throughout most of the world outside of China six years ago. Netflix acknowledged its problems are deep rooted by projecting a loss of another 2 million subscribers during the April-June period. The latest subscriber loss was far worse than a forecast by Netflix management for a conservative gain of 2.5 million subscribers. The setback follows the company's addition of 18.2 million subscribers in 2021, its weakest annual growth since 2016. “”Those are over 100 million households already are choosing to view Netflix," Hastings said.

Source: ABC News April 20, 2022 18:56 UTC