Published on 20 Apr 2022 on MarketWatch
UPDATE: Netflix stock slides 27% premarket and drags Disney, Roku, and Warner Bros. Discovery and...
Netflix Inc. shares slumped 27% in premarket trade Wednesday after its first-quarter earnings showed the streaming giant l, pulling rival streamers lower with it. Walt Disney Co. slid 5.1%, while Roku Inc. was down 6.8%. Warner Bros. Discovery Inc. was down 3.9%. Paramount Global was down 5%. Even Amazon.com Inc. home to Prime Video, was down 0.7%. AT&T, home to HBO Max, was slightly higher. China's Iqiyi Inc. was down 2.5%. The dual dangers of dwindling subscribers and deepening stock losses led Netflix executives to consider a crackdown on password sharing, and Co-Chief Executive Reed Hastings even went so far as to say that the company could offer a lower-priced subscription tier that includes commercials, a move he has resisted for years.