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Netflix left behind by hundreds of thousands of customers. After losing more than 200,000 subscribers in the first quarter of 2022, the streaming platform has now lost 970,000 subscribers in the second quarter of 2022.
That’s better than Netflix’s projections of losing two million subscribers. But that figure remains the biggest quarterly loss Netflix has ever experienced in its history, as quoted from TechCrunch, Wednesday (20/7/2022).
Netflix said the slightly better results were helped by better-than-expected subscriber growth, especially in regions like Asia Pacific. Despite losing subscribers and haunted by the bad currency exchange rate, Netflix still posted a profit of USD 1.44 billion.
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Currently, Netflix has 220.67 million subscribers worldwide, down from 221.64 million subscribers. Welcoming the third quarter, Netflix hopes to attract one million new subscribers.
In the last few months, Netflix has changed its business strategy to face the difficult months ahead. In May and June, Netflix laid off 450 employees.
Netflix will also launch a new subscription plan with a lower price but with ads. In its letter to shareholders, Netflix said the package would launch early next year.
But not all Netflix content will be available on ad-supported plans due to content licensing agreement issues. Netflix Co-CEO and Chief Content Officer Ted Sarandos said the company will deliver some content, but it’s clear that not all of it will be available when the package launches.
In addition, Netflix also plans to fight users who share accounts with other users who don’t live in the same house. Netflix has started experimenting by testing the ‘add a home’ feature, where users will be charged an additional $3 if they want to share an account with users who don’t live in the same household.
In the past year, Netflix does face major threats from new players in the streaming industry, such as Disney Plus, HBO Max, and Paramount Plus.
Last quarter, Paramount Plus subscribers grew by nearly 40 million, HBO and HBO Max added 13 million new subscribers, while Disney Plus subscribers added 8 million.
Watch Videos”NETFLIX Loses 1 Million Followers in Mid-2022“
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