Editorial

Netflix Loses $24 Billion In Value In 6 Days

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David Hookstead Smoke Room Editor-in-Chief
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Netflix’s value has taken a huge hit over the past few days.

According to The Hollywood Reporter late Tuesday afternoon, the company has lost $24 billion in value in the past six days after it was revealed the site lost subscribers in America for the first time since it was created. (RELATED: ‘Stranger Things‘ Season 3 Is Incredibly Impressive, Might Be The Best One)

The bad news for the company also comes after it was revealed “The Office” would be leaving the streaming service.

Maybe, just maybe, the site wouldn’t be in such trouble if it wasn’t about to lose the best old show on the service. I’m not a genius, but that would seem pretty obvious to me.

Fans love “The Office,” and it’s really bad for the site that it’s leaving. It’s mind-boggling to me Netflix has dropped $24 billion in value in less than a week, but here we are.

People probably wouldn’t be leaving the service if their favorite show wasn’t also leaving. I’m sure the connection there isn’t a complete coincidence.

Hopefully, Netflix is able to turn this whole situation around because the streaming service does produce some great original content.

Stranger Things” and “Ozark” are both two of the best shows made in my lifetime. The former might be one of the greatest shows ever made no matter what time period we’re talking about.

Trust me, I don’t want to see Netflix fail. Not at all. I use the service pretty much every single day, but I can’t say I’m surprised people are fleeing.

When you lose great content, people are going to react accordingly. Let’s all just hope the popular streaming site gets it figured out sooner than later.

I’d hate to have a front row seat to its decline.