Netflix stock dropped after the company announced it would no longer be releasing viewer numbers.
Netflix has been a major player in the entertainment industry since its launch in 1997. The streaming service has grown exponentially over the years, and now boasts over 150 million subscribers worldwide. However, Netflix recently announced that it would no longer be releasing viewer numbers for its shows, causing a huge drop in stock value.
Why did Netflix stop releasing viewer numbers?
In an announcement on October 26th, Netflix revealed that it would no longer be releasing viewership data for its shows. The company stated that this decision was made because “the overwhelming feedback” they received from their viewers was that they were more interested in the quality of their content than how many people were watching it. This announcement came as a shock to many investors and analysts who have used these numbers to determine how popular each show is.
How did Netflix’s stock react?
Following this announcement, Netflix’s stock value dropped by 6%. Although this is only a small percentage of the overall value of the company, analysts are worried about what this means for future growth.
