Netflix announced that it lost about a million subscribers in the second half of 2022.
The announcement, made during the quarterly investor call, shows that the strategies offered by the platform to prevent password sharing are negatively impacting internal numbers.
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According to own Netflixat the end of June, 220.67 million subscribers were reported, compared to 221.64 million in the first quarter, a decrease of about 970 thousand users.
It’s not all bad for them though, as CFO Spence Newman is. he assumed that up to two million men could be lost during such a cycle.
Already during the first quarter, a reduction of 200 thousand subscribers was announced, and the global economy, the war in Ukraine and the exchange of accounts were caused by a slowdown in subscriber growth. However, for this larger decline, the reasons for the fall are not mentioned or argued.
What’s more, the company indicates that it’s possible that the account sharing surcharge, which is currently being tested in some countries such as Peru, will be rolled out to the rest of the regions where it’s active.
Plans for 2023: arrival of announcements
After giving the numbers, Netflix prioritizes praising its existing content.
It also reaffirmed its upcoming plan for a cheaper ad tier in partnership with Microsoft, which looks set to be off as early as 2023.
But, oddly enough, Netflix predicts a rebound of a million subscribers in the next quarter, mainly due to the 4th season weird things. Mind you, he also expects revenue growth to remain flat year-over-year, expecting only 5% growth in the third quarter.
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Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.