Netflix has announced that it has lost 200,000 subscribers globally in the last quarter – compared to an expected increase of 2.5 million – and expects the loss, for the following quarter, of another 2 million. Netflix attributed the losses to growing competition and sharing accounts with people outside their families. “The large number of households sharing accounts, combined with the competition, is creating headwinds for revenue growth. Covid’s big push to stream has recently overshadowed the picture, ”the company said.
– Read also: Netflix and the problem of shared accounts
Netflix currently has 221.6 million paying subscribers, but estimates that the service is shared in another 100 million homes: of these, 30 million are located in the United States and Canada. Furthermore, the decision taken in early March to suspend service in Russia after the invasion of Ukraine resulted in the loss of 700,000 subscribers.
Netflix’s first-quarter revenues instead increased by about 10 percent to $ 7.87 billion: they are still below analysts’ forecasts. Quarterly profit was $ 1.6 billion, down from the same period last year ($ 1.71 billion).
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