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Netflix Rout Is Worst Since 2004, Punishing Roku and Disney, Too

April 20, 2022, 8:16 PM

Netflix Inc. investors punished the company for its shock loss in subscribers and abrupt turnabout to embrace advertising after years of shunning it.

Shares of the streaming leader plunged 35%, erasing $54 billion of market value in its biggest drop since 2004. The swoon made Netflix the worst-performing stock of the year on both the benchmark S&P 500 and Nasdaq 100 indexes and sent shock waves across the media universe, sinking Warner Bros. Discovery Inc., Roku Inc. and others.

Netflix is seeking ways to stop a loss of subscribers and combat investor fears that its best days are ...