Posted December 11, 2019 10:51:55 Netflix has announced that it has closed down its account management business, saying that it is closing it down because it is not profitable.
The streaming service has been losing money, as the company has struggled to make money from its streaming service and has struggled for years to make a profit.
Netflix, the company behind popular Netflix shows like House of Cards, Daredevil and Orange is the New Black, announced that its account manager business will be closed on December 11, 2020.
The move follows Netflix’s acquisition of Datalogix, which it acquired in 2017, and a slew of acquisitions over the past several years.
The company also announced its plans to shutter its U.S. office.
The move is in response to a number of factors, including a number and an estimated $1 billion loss for its accounts management business in 2019.
Netflix has been working on its accounts manager business for years, and the company announced its move to shut it down.
In its statement, Netflix said:We are making the decision to close down our account management, so we can focus on what we are best at: providing customers with the best experience possible.
The new business model will continue to deliver high-quality content to our subscribers, and will provide Netflix with an additional revenue stream to support the growth of our businesses.
Netflix’s account management company, which was founded in 2006, has had a tough year.
In July, Netflix’s revenue dropped 40% year-over-year, and it has struggled financially in the past few years.
It was acquired by Amazon in 2016, and Netflix went public in 2021.
In December, Netflix CEO Reed Hastings announced that he would be stepping down as CEO, which he had held for nearly a decade.
In a statement, Hastings said:I am leaving Netflix because I believe that the time has come to focus on the future.
The time has arrived to focus our resources on delivering a better, more intelligent Netflix experience for our customers, and our culture.
In the months ahead, we will make a fresh start.
Netflix said that it will continue working with its customers and partners to make the service better and faster.
Netflix said that its new account manager will be an “experienced and proven manager.”