Netflix is losing its grip on long-standing subscribers.
New data show that people who have been subscribers to Netflix for more than three years accounted for a significantly greater share of cancellations in the first quarter than they did two years earlier. The data help illuminate why Netflix’s subscriber growth stalled suddenly in the first quarter, prompting a big drop in the company’s stock price to its lowest point in several years and undermining investor confidence about the future of the streaming market.
