Netflix Loses Subscribers For The First Time In 10 Years
Netflix has reported a loss in subscriber numbers for the first time in 10 years. Even in the fast-paced world of streaming entertainment, which has seen content constantly shifting from platform to platform as new streaming venues rise and fall, Netflix has remained one of the top performers since its inception in 2007 (10 years after the company was founded as a disc-by-mail service). Netflix originally rose to the fore of the streaming industry on the back of popular original series like House of Cards and Orange Is the New Black, eventually shifting from streaming library titles that they had licensed from other companies to creating more of their own proprietary content. This turned out to be a smart move, as the rise of new platforms began to limit options for licensing, including the Warner Bros. library going to HBO Max and 20th Century Studios titles now belonging to Disney.
Although Netflix has seen some major competition in recent years, especially from Disney+ and their slate of originals from the Star Wars and Marvel universes, they have continued to report major gains for their original content. They have consistently broken their own records, with last year seeing both the star-studded action comedy Red Notice and the dystopian Korean drama series Squid Game report record numbers in their respective categories. Since the beginning of 2022, they have also scored hits with Bridgerton season 2, the scammer series Inventing Anna, and The Adam Project, which reteamed Ryan Reynolds with Free Guy director Shawn Levy, who is now on board to direct the star in Deadpool 3.
Related: Why Ryan Reynolds Netflix Movies Are So Popular (Even If They're Bad)
Per Variety, Netflix just shared its report on its Q1 earnings for
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