Netflix Has Lost 200,000 Subscribers Causing A Massive Stock Crash

As inflation rises to an all-time high, one of the first things to be cut from household budgets – streaming services.

Unfortunately, this was proven true when Netflix announced earlier this week they have lost 200,000 subscribers causing a massive crash to Netflix’s stock.

While Billionaire Elon Musk is quick to say the reason for Netflix’s stock crash is: “The woke mind virus is making Netflix unwatchable,” Netflix has a different reason.

In a letter to investors, Netflix blames the losses on two things: password sharing and competition from other streaming platforms.

And sure, those many be some of the reason for Netflix’s crash but the bottom line is – people are spending a ridiculous amount on streaming services and right now, that isn’t a necessity like keeping a roof over their head and food on the table is.

People went from paying way too much in cable to now paying way too much for streaming service apps.

Not to mention, it doesn’t help that Netflix has constantly raised their prices over the years.

So will this be the beginning of the end for Netflix? Who knows but if you’re password sharing right now, expect that to come to an end as Netflix has already moved towards stopping that.