Netflix Reports Largest , Quarterly Loss of Subscribers .
Netflix Reports Largest , Quarterly Loss of Subscribers .
CNET reports that Netflix lost fewer subscribers than expected last month, while also reporting a significant decrease in overall members.
CNET reports that Netflix lost fewer subscribers than expected last month, while also reporting a significant decrease in overall members.
Earlier in 2022, Netflix reported
its first decline in membership
in over a decade.
That subscriber dip was expected
to plunge even deeper this quarter. .
On July 19, Netflix released
its second-quarter report. .
According to the report, subscribers
fell by 970,000 to reach a total of
220.67 subscribers in April through June.
While it's the largest decline in members the company
has ever reported, Netflix remains the world's
dominant streaming-video subscription service.
In April, Netflix had predicted losing
2 million members worldwide.
It's tough, in some ways, losing
1 million and calling it success.
But really, we're set up
very well for the next year, Reed Hastings, Netflix co-CEO, via CNET.
It's tough, in some ways, losing
1 million and calling it success.
But really, we're set up
very well for the next year, Reed Hastings, Netflix co-CEO, via CNET.
On July 20, shares of Netflix
were up 4% in premarket trading,
reaching $209.72. .
Stock in the streaming giant has still
lost two-thirds of its value in 2022.
CNET reports that Netflix is now testing new schemes
to increase its membership, including an account-sharing
plan and a cheaper subscription with advertisements.
CNET reports that Netflix is now testing new schemes
to increase its membership, including an account-sharing
plan and a cheaper subscription with advertisements