Netflix Loses $17 Billion in Value in One Day

A day after it was revealed that Netflix added only 2.7 million subscribers in the most recent quarter, far shy of the 5 million it had previously forecast, The streaming service shed $17 billion in value on Thursday as Wall Street punished the leader in streaming media.

In trading volume more than five times its daily average, the stock sunk 10 percent Thursday as analysts digested the news, which included the fact that Netflix lost U.S. subscribers for the first time since launching its streaming product, meaning that the entirety of its gain came from international territories.

The downturn of Netflix primarily deals with the increase in price, and the upcoming competition that is sure to decrease Netflix’s number in the forthcoming future.


Like this story? Follow Reel Talk Inc. on Facebook, Instagram, and Twitter for daily news and reviews, and sign up for our email newsletter here.

Podchaser - Reel Chronicles
About David Gonzalez 3061 Articles
David Gonzalez is the founder and chief film critic of Reel Talk Inc. and host of the Reel Chronicles and Chop Talk (80s horror) podcasts. As a Cuban American independent film critic, David writes fair and diverse criticism covering movies of all genres and spotlighting minority voices through Reel Talk. David has covered and reviewed films at Tribeca, TIFF, NYFF, Sundance, SXSW, and several other film festivals. He is a Rotten Tomatoes Tomatometer-Approved Critic and a member of the Latino Entertainment Journalists Association (LEJA), New York Film Critics Online, Hollywood Film Critics Association, and the North American Film Critic Association. As an avid film collector and awards watcher, David's finger is always on the industry's pulse. David informs and educates with knowledgeable and exciting content and has become a trusted resource for readers and listeners alike. Email him at david@reeltalkinc.com or follow him on Twitter and Instagram @reeltalkinc.