Netflix Shares Plummet After Loss Of Mass Subscribers

Netflix has suffered its worst share loss in over a decade, falling by 200,000 subscribers in the company's latest report.

As per a quarterly report, the pioneering streaming service had its shares plummet by 25%, raising concerns over the platform's future.

It's the largest downfall experienced since its inception, with an estimated two million more subscribers set to give Netflix the boot between April and June.

The company says the level competition can be correlated to its latest downward trend.

"In addition to our 222 million paying households, we estimate that Netflix is being shared with over 100 million additional households, including over 30 million in the [United States/Canada] region," the company said.

Netflix plan to fight the financial downfall through improved service and accessibility.

"Our plan is to re-accelerate our viewing and revenue growth by continuing to improve all aspects of Netflix — in particular the quality of our programming and recommendations, which is what our members value most," the company said.

While the company has consistently fought against the idea of advertising, Netflix CEO Reed Hastings says it won't be ruled out to combat the loss of shares.

"Those who have followed Netflix know that I've been against the complexity of advertising and a big fan of the simplicity of subscription. But as much as I'm a fan of that, I'm a bigger fan of consumer choice," Hastings said.

"And allowing consumers who like to have a lower price, and are advertising tolerant, get what they want makes a lot of sense."

Netflix will soon move to restricting shared users in households, through enforcing passwords and location checking for single-use accounts.

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