to russia and belarus, the possibility of someone from those countries lifting the famous trophy and the resulting propaganda produced back home. too much for organizes to bear d w. news. businesses of nature, daniel winters, i will see you tomorrow with enjoying the view. come to take a look at this tv highlights every week in your inbox, subscribe now. oh hello guys. this is the 77 percent. the platform for africa. you to repeat issues and share ideas. ah, you know, or this channel,

we are not afraid to happen. delicate this topic because population is growing fast . and young people clearly have the solutions. the future belongs with the 77 percent every weekend on d w. ah, that's like netflix as stuck in a drama of its own making. the company's stock plummeting directly after opening on thursday, as viewers hit the unsubscribe blotted where next for netflix, we'll get the analysis from our correspondence. also coming up, as biden says, he'll ramp up domestic oil production. we visit an oil town in the north of the usa, desperate for the cash injection despite environment. it's time for the w

business. now this 1st story we reported when it broke last night, but it just keeps getting worse for netflix investors reacting to the streaming giant disastrous quarterly results at share price, tanked to day get this 1st the company last subscribers for the 1st time in a decade. then it says it expects to lose 2000000 more customers in the next quarter. in other words, we may have reached peak. netflix investors fearing the streaming market is saturated. the company saw $40000000000.00 wiped off its market value in a matter of minutes. now that's nearly 40 percent of netflix as valuation gone overnight. speaking of peak, netflix, look at this just around 6 months ago. it stock was at a record touching almost $700.00. it since fallen almost 70 percent

or the bigger they come, the harder they fall. well, we got team coverage on this for you. first we're gonna speak to on james sweeney who's on the new york stock exchange. and then later on we'll bring in our culture correspondence, scott rock tspra. i'm so james, wasn't this inevitable after all, netflix is bet on constant growth instead of profits like a lot of tech firms. but that strategy was always gonna run out of road sooner or later. well, if you're asking if this was inevitable, yes, it was because that netflix continued to grow, but profits haven't fallen alongside its growth. and again, i said this yesterday too many of the writing was on the wall when companies like nbc peacock and cbs parallel started to pull their content from netflix in order to start their own streaming services and their own original content. remember when there was an uproar when nbc took friends in the office off of netflix, only to find out that they will still be available, but on the competitor, a lot of popular content that was on netflix is that when a competitor site, now they did try to pad those losses with the original content like ozark,

but when a lot of your content viewers aren't even paying for the service due to password sharing, and as the world opens up as inflation forces consumers to count their dollars. it's simple math and what we're seeing is the results. okay, so it tough time. absolutely. a netflix at the moment, but is this contagion that we've seen? is it spreading across streaming or entertainment stocks as a whole? or is it limited to netflix for now? is this contagion spreading? well, i took a look at the competitors stock price today, and it's definitely spreading. the bottom line is this, there's content overlord overload. i'm sorry. and when people are looking at their finances, they're looking at all the $10.00 monthly charges. i'm beginning to wonder exactly how many subscription streaming services do we all really need. does one show justify this charge? and for those that have to go back to the office, they need that $10.00 for their morning commuting coffee, which brings up another great point. people, the world is opening up now and people are not stuck in their homes anymore. and

when you can finally break freeze and it better to spend $10.00 on a drink outdoors or save up for the upcoming summer vacation, alongside the beach, then to lock yourself in a home and watching the tv show, you know, just just like you did for the past 2 years, and when you take this all into consideration, i don't see this being a strong summer for the streaming companies. i will, thanks for that, james. and i want to loop back round. that was that was the reaction to day. the, the difficulties with the stocks, but i want to get the reaction from scott as well. so i'm scott roxborough, who's on our d. w culture correspondent, i'm while customers pulling the plug so that we've seen this entire reaction that we're getting. well, james mentioned a lot of things that i think of contributed to it though. talk about a tough times right now in inflation. netflix and other streamers are seen as luxury items and people have to cut those when, when, when times are tough. the issue of a competition from other streamers. i mean netflix is no longer the only streamer on the block. a companies like apple with its apple tv plus disney and with its

disney plus service and a lot of the sort of smaller nice streaming services i've really gained grand sort of started to eat in netflix market share. and as james mentioned, i think that's a very key point. netflix no longer has this deep library of acquired a films and television shows from the big studios because the students pulled those the programming from netflix serve their own services. and you add all those in plus the, one off an insignificant item of a russia where netflix cancel or suspended it service after rushes invasion of ukraine. and that move alone struck 700000 russian netflix subscribers from its roles. so if you add all that together, it adds up to a quite significant shortfall on netflix, but okay, so there's some things with a one off charges essentially for that particular quarter. but it seems that there are ongoing issues too. so what options are left on the table for netflix and for

other streamers? if they want to keep growing, if they can keep growing where they can keep growing is actually a very big question. i mean netflix is i want a few things that's plans to do. james mentioned the idea of password sharing with netflix as a huge problem. they have some 100000000 people worldwide sort of free load on their service by using someone else's subscription password. they wanna try and crack down on that which could have an effect. and they've also said they're going to introduce a ad supported, lower tier model, similar to what spotify and other services use to sort of allow people to have a lower cost version a to watch netflix. but it would get ads with it that should added to different number of subscribers. of course, those are less valuable subscribers because they're going to be paying less per month. but i think overall, gonna be very difficult for netflix and other streaming services to suggest that they can do a lot of growth going forward. i think this is

a much more mature market, the streaming market and i think that's going to be priced into the expectations of the stock market going forward. okay, well if you scripted it, you probably wouldn't believe at all. no, maybe you wouldn't, but either way, definitely a big drama for netflix. how culture correspondence, scott and james on wall street. thank you very much for that. now us president joe biden is bringing back leases for oil and gas. drilling on federal land reverses a campaign promise to appease the vast majority of americans who drive regularly. oil is back over a $100.00 a barrel in the united states is doing what it can't increase supplies by producing more at home. on us bureau chief in his pool traveled to the small town of tioga north dakota to speak to locals about their hopes and fears. over biden's plans to boost us on a production north dakota, the 2nd largest oil producer and the united states just behind taxes. pumps over

a 1000000 barrels per day, with concerns that the world wide energy crisis is getting out of control. small energy towns like tioga hope to benefit by an increase and dr. matthew craft overseas 28, pumpkin. tioga is mainly an oil production area. if oil is gonna be just a farming community, just like the rest of most small areas in north dakota, so it's very vital for the identity right now. lunch break into yoga at the side street diner. this is the place to go to understand why so many north dakota ends are hesitant to switch to renewable energy at my entire family, my grandparents, he have records that i work and work out for work or a company. so i mean, everybody in the family does, it should mean industry around here. so do they hope for a boom in the all business? or could there be an alternative, you know it, her tone, we can't. so local,

honestly, i think, i mean, i don't think green energy is a bad thing, but i think just trying to abruptly change it, you know, is, is, is short sighted. for decades. north dakota has been dominated by republicans who have supported the expansion of oil and gas drilling opposed to cleaner energy sources. fracking has been the alternative, opponents all concerned that this methods could devastate the environment for 40 years. kathy nason has been a consultant for the oil industry. have to remember that each drilling reg right now is much more efficient than the rigs of 5 years. 10 years ago i anticipate we will see drilling pick up. i do anticipate it will happen. it's not happening as quickly. luna is an international labor union. it's north dakota branch rep, since $400.00 oil and pipeline workers. right now with the war going on in the

ukraine. we're actually seeing an uptick on a push toward fossil fuel energy, not the green power because it's so available. and it's readily produced here in the state of north dakota. there is a greater voice for fossil fuels in the united states can produce what we need plus export more for the time being oil and gas seem to remain the driving force in north dakota. i'm going to stay on commodities, mexico's congress has passed a controversial bill to nationalize lithium mining. the mineral is vital for the modern tech industry, but is the government up to the task of managing such a crucial industry? lithium is crucial to products ranging from cell phones to p c's, to electric cars. it's one of the most valuable materials on the planet and is often called and new white gold. the mexican centers has just passed the lithium

amendment to the countries mining law. private companies, both domestic and foreign, are excluded from mining lithium, and existing contracts to my lithium will be reviewed, which could cause problems with overseas investors. i provide the lieutenant allen rafter cree reforming the mining law has been approved for them and yet he fiona and the bits of those eliminate that he kinda has been looking for president andre manuel lopez abra door de lithium bill is a kind of consolation prize. you on sunday, nice. his plans for a broader constitutional overhaul of the electricity sector. he were defeated, mexico's deposits of the metal are mainly found in the northern state of sonora, for drug traffickers and other organized crime gangs, operate to law will give a state run company exclusive rights to mine, lithium. however, such a company does not yet exist. on the mexican government has no experience in the commercial mining of lithium. now, a quick reminder on top of business story,

mythics of stock fell at nearly 40 percent on thursday. after announcing that $2000000.00 customers could does out the service in the coming bumps. the company says it could introduce an advertising funded option and could charge users who share that passwords with people outside the household. enjoy up to date with d w a business. thanks for watching. with you used to just wait for the re because he used to be able to rely on the monsoon today, robbie battlefield, unpredictability of climate change. just like i have a 100000000 farmers in india, he has found some help at the other end of the with global 3000.

next on d, w a little tougher. feel stronger and they feel brave. i'm still paid a lot less with why most women fight their way through the well the and how much better do they have to perform a gender equality check made in germany in 60 minutes on d. w. o. a and transformed into an orgy of hate and violence. the history of the ku klux klan, the oldest terrorist organization in the united states. it's members fight for

a racist state, ruled by white supremacy. what we're talking about here is not only disorganized violence, it's not only terrorism. it's colleges found it over 150 years ago. it's repeatedly died out, but always been resurrected. the ku klux klan starts may 11th on d w. ah ah ah, welcome to global 3000 bi, catch how the fishing is threatening. the last remaining stokes of shocks and raised in the mediterranean cobb and cap chap press solution to climate change or a dangerous adventure class waiting for the.