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Media & Entertainment

Netflix subscribers fall for first time in more than a decade

Asia-Pacific only bright spot as U.S. streaming giant's shares plummet over 25%

Netflix said the suspension of its service in Russia and winding-down of all Russian paid memberships resulted in losing 700,000 users in Europe.   © Reuters

PALO ALTO, U.S. -- Netflix reported its first paid subscriber dip in over a decade and forecast 2 million more user losses in the second quarter amid intensifying global competition. However, the Asia-Pacific region remained a bright spot with an increase of 1.1 million paid users in the three months to March.

The U.S. streaming giant's stock plummeted over 25% in extended trading on Tuesday.

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