Streaming Services

Netflix Reports Disastrous Second Quarter as Subscriptions Fall Short

Far-left Netflix had a disastrous second quarter that saw new subscriptions fall short of expectations, causing shares of the streaming entertainment company to plummet by as much as 12 percent in after-hours trading on Thursday. The company cited growing competition from TikTok, the Chinese-owned video app that is hugely popular with Gen Z.

MEXICO CITY, MEXICO - SEPTEMBER 12: Reed Hastings, CEO of Netflix, attends a press conference to announce the Netflix service in Mexico at the St. Regis Hotel on September 12, 2011 in Mexico City, Mexico. (Photo by Hector Vivas/Latin Content/Getty Images)

Best Buy to Stop Selling CDs

Best Buy will stop selling music CDs, amid the growth of digital music streaming, despite the fact that the reailer used to be the most popular music seller in the United States.

The Associated Press