Netflix is still reeling from its unexpected decline in Q1 subscribers, which led to a stock plummet of 35% and wiped more than $50 billion off of its market cap.
The streaming giant’s disappointing results came as inflation remains high, consumers cut costs and competition intensifies, although one media mogul is not giving up on Netflix quite yet.
“I don’t think Netflix has crashed — quite frankly, I think the market has overreacted,” Byron Allen, the founder and CEO of Entertainment…
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