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Why Netflix is being targeted by shareholders

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2 years ago

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Netflix is facing criticism from shareholders, with the company hit by a lawsuit for allegedly misleading the market

The shareholders at the centre of the claim say the streaming giant has lied about its ability to keep adding subscribers over recent months.

Filed in a San Francisco federal court… the case is seeking damages for declines in the Netflix share price this year.

The case accuses California-based Netflix and its top executives of failing to admit that increasing competition was leading to a plunge in subscribers.

It follows announcements the company had missed its subscriber growth estimates… with shares dropping 20% in January… before plunging more than 35% on April 20.

Netflix lost 200,000 subscribers in its first quarter… falling well short of its forecast of adding 2.5 million new users.

The company says this is all due to a combination of factors… including inflation, competition from other streaming services and its suspension of service in Russia.

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William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Warner Brothers & Discovery considers splitting up to boost stock value

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1 week ago

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July 19, 2024

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

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1 week ago

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July 18, 2024

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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1 week ago

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July 18, 2024

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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