Corona has not gone away yet, but OTT platforms like Netflix, which have seen tremendous growth due to staying at home due to electricity, have started to fade. Netflix barely managed to add 2.5 million subscribers in the current quarter, which is less than its estimate.
Shares fell 23 per cent on Wednesday, the biggest drop since October 2014, due to Netflix’s poor performance. The reason is that investors are moving away from it. In 2020, when the corona spread around the world, shares of Netflix and video software Zoom topped, while the rest fell. Today the shares of Zoom are at their lowest level since May 2020. Netflix subscriptions have also declined as the lockdown has been lifted in most parts of the world today. This directly affects its share price.