Netflix announced that it experienced a drop in United States subscribers for the time since 2011. The market reacted immediately, causing Netflix's share price to drop by 11 per cent, on the same day of the announcement. READ MORE:* Netflix adds 8.5m subscribers despite price rise* Netflix planning to spend NZ$11 billion on programmingNetflix remains confident about its future, despite the news. GETTY IMAGES The cast of Netflix series Stranger Things, which the streaming service hopes will help subscriber numbers rebound. And chief executive Reed Hastings doesn't think "streaming wars" was a credible reason.

Source: Stuff July 18, 2019 22:30 UTC