Netflix's stumble a warning sign for streaming industry?
Its loss of subscribers and market value crash come as rivals are racing towards the Netflix model.
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Netflix said this week that it lost more subscribers than it signed up in the first three months of the year, reversing a decade of steady growth.
PHOTO: REUTERS
John Koblin and Nicole Sperling
(NYTIMES) - Many entertainment executives, tired of playing catch-up to a Silicon Valley interloper, have been waiting for the comeuppance of Netflix. But this may not have been the way they hoped it would happen.
Netflix said this week that it lost more subscribers than it signed up in the first three months of the year, reversing a decade of steady growth. The company's shares nose-dived 35 per cent on Wednesday while it shed about US$50 billion (S$68 billion) in market capitalisation.
