The actions of Netflix have taken a nosedive and the company has lost almost 70% of its value since revealing this spring that it had lost nearly 200,000 subscribers. That spooked Wall Street and sparked a sell-off. The actions of Netflix They were trading north of $600 in January. Today, they are around $175 per share.
Netflix pioneered the streaming space, attracted customers and revolutionized the way movies and TV shows are consumed and distributed. But it has faced stiff competition in recent years. Disney, Comcast and Warner Bros. Discovery they are spending a lot to launch Disney+, Peacock and HBOMaxwhat is pressing Netflix to attract and retain subscribers.
Netflix he’s not the only Hollywood player enacting job cuts. Warner Bros Discovery it has also had layoffs as it seeks to cut costs and its debt load.
Source: Ambito
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