In the first quarter of 2022, Netflix lost 200,000 customers worldwide.

Netflix's stock price  has dropped 25% after the company announced that it has lost subscribers.

Netflix has stated in a letter to shareholders that it may lose up to 2M subscribers in the second quarter.

It's the first time the streamer has reported a subscriber loss in more than a decade.

Netflix attributed the slow subscriber growth to stiffer competition, password sharing, inflation, and the ongoing Russian invasion of Ukraine.

Netflix is planning to launch low-cost advertising-supported subscriptions, reversing its previous stance against advertising on the platform.

The suspension of the service in Russia, as well as the winding down of all Russian paid memberships, resulted in a loss of 700,000 subscribers, according to the company.

Netflix faced immediate backlash earlier this month after announcing that it was going to begin making some subscribers pay an additional fee for sharing their account with users outside their household.