Netflix's 2022 subscriber shock (2022)
In 2022 Netflix reported losing subscribers for the first time in more than a decade. The company cut about 450 jobs in two rounds, its largest layoffs at the time, and began building an advertising business.
The layoffs and the shift toward ads marked the end of the streaming boom's fastest growth phase.
Netflix's strategy since has centered on ads, live programming and gaming to find revenue beyond subscriptions.
This week's cuts follow the same pattern: growth slows, costs are trimmed, and the company hunts for new revenue.
