The company says it has about 221 million subscribers and hopes to add another million in the coming quarter.
Reed Hastings, co-CEO of the streaming platform Netflix, predicted the complete destruction of conventional television in just 10 years. The Daily Star writes about it.
It was noted that the traditional will lose its popularity, despite the fact that the service recently lost a million subscribers.
Hastings says linear TV is about to disappear thanks to a new generation of new online TV services.
“This is really the end of linear TV for the next 5 to 10 years. And as Nielsen will announce on Thursday, our US TV share reached an all-time high of 7.7% in June (up from 6.6% in June 2021) which demonstrates our ability to increase our engagement as we continue to improve service delivery,” he said.
Meanwhile, let’s add that Netflix shares fell about 37% in April. These losses are the biggest in its 10-year history.
The largest number of cancellations, nearly a million, were recorded in the United States and Canada. However, the trend is offset by the growth of more than one million customers in the Asia-Pacific region.
The premiere of the film Stranger Things contributed to the growth of subscribers. In its first four weeks, the season was watched by 1.3 billion hours, making it the biggest English-language Netflix TV season ever.
“Season 4 rekindled interest in previous episodes, with viewership more than quintupling from season 1 to season 3 in the month following the release of season 4 (compared to the previous month),” the company added.
The CEO blamed several factors for the recent slowdown, from password sharing and competition to a damaged global economy and the aftermath of the war in Ukraine.
In the past two months, Netflix has laid off nearly 450 employees, announced a cheaper ad-supported subscription plan, and promised to stop password sharing.
Netflix has completely stopped working in Russia
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Source: korrespondent
