mary of hope, until by to ukrainian precedence lensky says keith is ready for direct talks with russia to evacuate the city's remaining soldiers and civilians. ukraine is reportedly waiting a response from russia. that's it for me for now, but stay with us for dw business, but daniel winter in just a moment ticket with people and trucks injured when trying to flee the city center more and more refugees are being turned away at the border families, please see the reason for these critical illness, with people seeing extreme dreams, ross getting 200 people from the agency around the world. more than 300000000 people are seeking refuge. yes.

why? because no one should have to flee. make up your own mind. d. w. made for mines. ah ah, that's like netflix and 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 d 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 over night. speaking of peak, netflix look at this just around 6 months ago. at 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, the reading was on the woman companies like nbc speaker and cbs paramount 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 are and 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 result. ok, so it tough time. absolutely. a fanatics of 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 fries and 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 watch the tv show, you know,

just just like you did for the past 2 years, and we 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 rock tspra who's i'm 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 talk about tough times right now in inflation. netflix and other streamers are seen as luxury items and people ought to cut those when, when, when times are tough. the issue of competition from other streamers. i mean netflix is no longer the only streamer on the block. companies like apple with its apple tv plus disney with disney plus service and a lot of the sort of smaller nice streaming services that really gain ground sort

of started to eat in netflix market share. and as seems 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 tharp their own services. and you add all those in plus the one off and significant item of russia where netflix, cancel or suspended server 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 that part. ok, so there's some things 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? if they can't keep growing is actually a very big question. i mean,

netflix is outlined a few things that's plans to do. just mentioned the idea of password sharing with netflix as a huge problem. last night, some a 100000000 people worldwide sort of free load on their service by of using someone else's a subscription password. they wanna try and crack down on that, which could have an effect. they've also said they're going to introduce a ad supported, lower tier us model, similar to what a spotify another services used to serve, allow people to have a, a lower cost version a to watch netflix. but it would get ads with it that should add as significant number of subscribers. the courses are less valuable subscribers because they're going to be paying less per month. but i think an overall it's gonna be very difficult for netflix and other streaming services to suggest that they can do a lot of growth on 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, the expectations on the stock market going forward. okay. well if you scripted it,

you probably wouldn't believe at all. no, maybe you would. but either way, definitely a big drama for netflix or how culture correspondence got and james on wall street . thank you very much for that. now, u. s. president joe biden is bringing back leases for oil and gas drilling on federal land reversed as 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. our u. s. bureau chief in his poll traveled to the small town of tioga north dakota to speak to locals about their hopes and fears of a biden's plans to boost us on 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 worldwide energy crisis is getting out of control. small energy towns like tioga hope to benefit by an

increase in 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. gun sprague, and tioga 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 grandpa, he had records that i work and work for work or a company. so i mean, everybody in the family does. it's his main 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. tracking has been the alternative. ponens are 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 regs 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 by, you know, as an international labor union. it's north dakota branch repro 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 towards 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 seemed 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 a 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 mind that you will be reviewed,

which could cause problems with overseas investors. appro other look in your alley thereafter, cree reforming the mining law has been approved for them and get the fiona and the bits of those eliminate. i didn't get those, but it was for president andre's, manuel lopez, abra door de lithium bill is a kind of consolation prize still on sunday night. 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, were 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. and the mexican government has no experience in the commercial mining of lithium ion. now, a quick reminder on top of business story ethics, the stock fell at nearly 40 percent on thursday. and after announcement of

$2000000.00 customers could design the service in the coming bumps. the company says it could introduce an advertising funded option and could charge users who share that password with people outside the household. enjoy up to date with d w business. thanks for watching. oh wondering more delivered by ukrainian center, get mother's fear of the bombs has prevented the beast from being picked up. ah arena and fenton on i have been teaching here in this chief bomb shelter for weeks. ah, focus on europe next on d. w into the conflict zone with sebastian,

russian forces have begun. the 2nd phase of the war and ukraine. graham officials said they were confident they could hold off the offensive. as the war goes on, she believes the dangers arising. he's mean of course java, great granddaughter of the former soviet lead indicator crew. sure conflict zone in 60 minutes on d. w. with guardians, if truth exiled, turkish journalistic john, don't, darn. i have paid almost every price of being a journalist in a country like to key and mexican investigative journalist. i believe, man, this is,

are you every day the government is involved with digging the country soil to find out the truth. they want to kill me. guardians of truth starts may 3rd on d w. ah ah, this is focus on europe. i'm lar babel ola. nice to have you with us. russia is launching fresh attacks in ukraine as moscow declares. a new phase of the war, ukrainian forces are calling on their allies to send more weapons with the conflict approaching its 2nd month places in ukraine's east and south are under heavy bombardment, russia.