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In less than 100 days, Netflix has lost 200,000 subscribers

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Netflix’s stock has lost a quarter of its value. Tuesday, the company announced that its subscriber base had shrunk in the first quarter of this year.

The leading streaming television service had lost subscribers for the first time in a decade. The company attributed the decline to the suspension of its service in Russia as a result of Moscow’s invasion of Ukraine. Netflix had 221.6 million subscribers at the end of the first quarter of this year, down slightly from the same period last year.

In the most recent quarter, the Silicon Valley tech firm reported a net income of $1.6 billion, down from $1.7 billion a year earlier. Following the release of the earnings figures, Netflix shares fell 25% to $262 in after-market trades.

In an earnings letter, Netflix stated, “We’re not growing revenue as quickly as we’d like.” “Covid clouded the picture by significantly increasing our growth in 2020, leading us to believe that the Covid pull forward was responsible for the majority of our slowing growth in 2021.”

Netflix believes that the time it takes for homes to get access to affordable broadband internet service and smart televisions, as well as subscribers sharing their accounts with people who do not live in their homes, are stifling its growth.

According to the streaming giant, while nearly 222 million households pay for its service, accounts are shared with over 100 million households that do not pay for the television streaming service.

“Account sharing as a percentage of our paying membership hasn’t changed much over the years,” Netflix said, “but when combined with the first factor, it makes it more difficult to grow membership in many markets.”

Last year, Netflix began experimenting with ways to profit from people sharing accounts, such as adding a feature that allows subscribers to pay a small fee to add additional households to their account.

Another factor affecting Netflix is the fierce competition it faces from behemoths like Apple and Disney.

“Our plan is to reaccelerate our viewing and revenue growth by continuing to improve all aspects of Netflix,” Netflix said, adding that it is “doubling down” on content creation.

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Why Ukraine: Know The Back Story…..

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By invading Ukraine, Russian President Vladimir Putin has provoked one of Europe’s worst security crises since World War II, with missiles and artillery barrages accompanying troops as they entered the nation from various directions. In a video by WION YouTube Channel, Palki Sharma Upadhyay pointed out her view point about the matter ‘Why putin wants Ukraine’.

The Ukraine-Russia problem does not begin in 2021 or 2014; rather, it begins in the ninth century. Once these two countries were united. Ukraine used to hand over its nuclear weapons to Russia. But what happened now that they ready for the war.

On February 24, Russian President Vladimir Putin initiated a military assault against Ukraine. The armies entered Ukraine from multiple routes, sparking fears of a European conflict over Russia’s demands for a stop to NATO’s eastward expansion.

WHAT IS NATO

The North Atlantic Treaty Organization, often known as the North Atlantic Alliance, is a military alliance made up of 28 European and two North American countries. The organisation was founded in the aftermath of World War II to carry out the North Atlantic Treaty, which was signed on April 4, 1949.

For months, Putin denied that he was plotting an invasion. In a televised statement, he said he had ordered “a special military action” to safeguard Russian citizens who had been victims of “genocide” in Ukraine.

Tensions between Russia and Ukraine have existed for many years. Tensions rose in 2021, however, when Ukrainian President Volodymyr Zelensky pushed US President Joe Biden to allow Ukraine to join NATO. Ukraine is a democratic country with a population of 44 million people and a history dating back over 1,000 years. It is also, after Russia, the largest country in Europe by area.

It voted for independence from Moscow after the demise of the Soviet Union. Putin sees Ukraine as a man-made country ripped out of Russia by adversaries. He has also referred to Ukraine as a Western puppet. Russia was enraged by Zelensky’s request to join NATO, and it began stationing troops along the Ukraine border. The US observed unexpected Russian army movements near the Ukrainian border on November 10, 2021. On November 28, Ukraine announced that Russia has amassed about 92,000 troops in preparation for an attack in late January or early February.

Moscow, on the other hand, denied it and accused Kyiv of conducting its own military build-up. President Biden warned in December that if Russia invaded Ukraine, he would face heavy consequences. Putin has insisted on assurances from the West and Ukraine that the country will not join NATO.

This isn’t the first time that relations between Russia and Ukraine have risen. In 2014, Russia invaded Ukraine and occupied the Crimean peninsula. President Putin’s backed rebels captured significant swaths of eastern Ukraine and fought the army. When its pro-Russian president was overthrown, the attack began. Since then, the battle has taken the lives of over 14,000 people.

He claims that contemporary Ukraine was totally built by communist Russia and that it is now a puppet state under Western influence. President Putin has also said that if Ukraine joins NATO, the alliance will attempt to reclaim Crimea.

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