YIKES

Netflix Reports First-Ever Drop in U.S. Subscribers

The slump happened even before fan-favorite TV shows like ‘Friends’ and ‘The Office’ were slated to leave the platform in the near future.

Netflix has seen a drop in subscribers for the first time ever, falling short of even its own subscriber growth estimates. The streaming service’s number of U.S. subscribers fell by 126,000 in the second quarter, The Washington Post reports. The number starkly contrasts with expectations: Netflix estimated it would see 300,000 more subscribers, and analysts expected 352,000 new subscribers. Earnings and revenue numbers were reportedly within expectations, but the company’s international growth also didn’t meet the mark—with 2.83 million new subscribers recorded, compared to the 4.81 million analysts expected and the 4.7 million Netflix predicted. The streaming giant’s stock reportedly dropped 11 percent after the news of the lackluster numbers broke. This could be the first sign of trouble for the company, as new streaming platforms are popping up and fan-favorite shows—like Friends and The Office—were slated to leave Netflix in the near future.