Netflix lost 1 million subscribers last quarter

Netflix lost 1 million subscribers last quarter

Netflix is ​​the most popular streaming platform, there is no doubt about that. In the last decade its growth has been exponential, but, naturally, it was going to reach a maximum, after which it was going to be difficult to get more subscribers. The moment came in recent months and since then the situation has set off some alarms. Well, today the company revealed that it just lost close to 1 million subscribers… but it’s not as bad as it seems.

Despite being a beautiful season for many people, spring does not sit well with Netflix, or at least this year, because the company over the last 3 months (from April 1 to June 31) Leading streaming platform had a spill of almost 1 million subscribers, precisely 970,000 subscribers.

This can be alarming considering that this is the biggest loss of subscribers to date for the platform. We remind you that for the first time in 10 years, Netflix recorded a loss of subscribers in April 2022.

Netflix posted record subscriber loss

The loss of subscribers seems insignificant considering that the platform has 220.67 million subscribers worldwide as of the end of June 2022, a slight loss compared to the 221.64 million registered subscribers at the end of March 2022 and even less in comparison with the end of December last year (221.84 million subscribers).

However, the truth is that the situation is not so bad; in fact, Netflix foresaw worse. According to Netflix CFO Spence Newman, a loss of 2 million subscribers was forecast for the past quarter, so the final loss of 1 million subscribers is actually great news.

On the other hand, there is better news for Netflix in terms of revenue, as they increased 9% compared to the same period, but last year.

According to the report (viaIGN), the causes of this poor performance of Netflix were the world economy, the war between Ukraine and Russia, as well as the exchange of accounts. precisely the company has been planning for months how to deal with this latest problem (and will soon put them into action)and in addition to this, today he has just confirmed the first details to increase income by implementing a category with advertisements.

The company anticipates that the outlook will improve next quarter (which will end on September 30), as it estimates a rebound of 1 million subscribers, thanks in large part to its upcoming big productions or those that are already giving a lot to talk about like Season 4 of its successful series Stranger Things and, although it projects 5% growth for the next quarter, it expects revenue to remain stagnant.

Ashley Johnson
Ashley Johnson is the lead reporter for Globe Live Media on things related to Astrology, Lifestyle and Music. Being a fitness enthusiast, her background involves growing up in Beverly Hills, where She often interacts with famous Artists and also talks about their ways for a Healthy Lifestyle. She is in fact a profound Yoga student. You can be well assured about the authenticity and quality of Lifestyle, Health, and Music reports published by her.