, Columnist
Can Netflix Compete With the Real World?
The service faces more challenges than ever — including the return of in-person fun.
Ouch.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
The streaming wars took a savage turn this past week. Netflix’s earnings report disappointed investors. CNN+ dropped out of the game entirely, just a month after launching. The result has been a wave of brutal selloffs, making Netflix the worst-performing member of the S&P 500 this year to date.
Here’s the data point that likely wiped out billions of dollars of value: A decade of seemingly perpetual growth came to a halt with the loss of some 200,000 subscribers. You might need to grab a magnifying glass to see them, though, because ultimately that’s just a 0.09% decline.