Netflix takes gamble dropping thousands of films including Hunger Games and Transformers
Published 01/09/2015 | 12:49
Shares in Netflix fell 2.3pc to $114.95 last night on the news that it had not renewed an agreement with cable network Epix.
Thousands of films will be removed from Netflix in the US as a result including Hunger Games and Transformers movies.
Netflix, which has more than 60 million subscribers worldwide, said it was refocusing on exclusive content.
Rival US service Hulu has replaced Epix. "Our subscribers have been asking us for more, and more recent, big movies," Hulu said.
"We listened. Through this new deal with Epix, we are proud to now be able to offer a huge selection of the biggest blockbusters and premium films."
Netflix's deal with Epix was worth a reported $1bn ends at the end of September.