Netflix’s future may be in jeopardy

The future of streaming giant Netflix appears to hang in the balance as it is set to report its second quarter earnings today. The announcement is shaping up to be one of the most significant moments in the streaming platform’s history.

Netflix has seen a tough year, with the streaming service losing 200,000 subscribers in April, its first subscriber loss in more than a decade. That sent Netflix shares down 25%, indicating that the streaming pioneer may be past its prime.

The loss of subscriptions forced Netflix to lay off 150 employees in May and another 300 in June. The move mostly affected the workforce in the US and Canada.

Netflix recently partnered with Microsoft on its planned ad-supported subscription offering, as the streaming giant looks to catch up with low subscriber growth by launching a cheaper plan.