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 sell-offs, making Netflix the worst-performing member of the S&P 500 this year to date.
Here is 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 about 200,000 subscribers. You might need to grab a magnifying glass to see them, because ultimately that is just a 0.09 percent decline.
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