Netflix shuts down in Russia

Netflix Inc. is shutting its operations in Russia, one of the largest media companies to pull out of the market following the attack on Ukraine.

No new customers will be able to sign up and it’s unclear what will happen with existing accounts, the company said. The service has under one million customers in Russia.

Netflix, which has been operating in Russia through a joint venture with National Media Group, joins a growing list of companies from Apple Inc. to Ikea in suspending or terminating their businesses in the country after its invasion of Ukraine last month.

Several Hollywood studios have also paused the release of movies in Russia.

The streaming giant said previously it won’t be carrying required Russian news channels on its local-language service in the country and has also paused all projects and acquisitions from Russia, including four Russian original programs in production.

Main Image: The Guardian