Investors in the platform are suing it

“Netflix” after losing subscribers .. in the crosshairs of accusations from shareholders

The broadcasting giant expects to lose more subscribers.

AFP

A number of “Netflix” shareholders have filed a lawsuit against the streaming platform, which they accuse of deceiving them about the decrease in the number of subscribers to it, which is the news that caused the drop in its share price.

Investors said the California-based group had made "false and/or misleading" statements and withheld some information.

Investors took to the platform, especially not to clarify that “the slowdown in the growth of the number of subscribers is due, among other reasons, to the sharing of accounts among a number of customers, and to the increased competition from other broadcasting platforms.”

Netflix announced on April 19 that it had lost 200,000 subscribers worldwide in the first quarter of this year, compared to the end of 2021, a precedent for more than 10 years.

The broadcasting giant, which expects to lose more subscribers in the spring, has planned to tighten the screws on the sharing of IDs and passwords, allowing many people not to pay for access to the platform.

Netflix intends to adopt a tough policy on account sharing, which used to allow many to benefit from the service for free.

The total number of subscriptions to the platform is 221.64 million.

• The platform announced last April 19 that it had lost 200,000 subscribers all over the world in the first quarter of this year.

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