Netflix loses almost a million subscribers

In the last quarter alone, the Netflix streaming service lost almost a million subscribers.

The Netflix streaming service continues to lose subscribers and seems to have accelerated over the spring. After the company already lost around 200,000 subscribers in the period from January to March 2022, this number is many times higher in the second quarter of 2022. From April to June, Netflix lost a million paying customers.

Fewer cancellations than expected

According to the current quarterly report, Netflix now has 220.67 million subscribers worldwide. At the end of 2021 there were still 221.84 million. The loss of roughly one million customers in the most recent quarter is even smaller than expected when compared to Netflix projections. Originally, the service assumed it would lose at least two million subscribers during this period. Sales rose nine percent year-on-year.

Measures against account sharing and cheaper subscription

In its most recent quarterly report, Netflix cited the war in Ukraine, the global economy, and the sharing of Netflix accounts across multiple households as reasons for dropping subscribers. Netflix is ​​already taking action against the latter problem in Latin America. An advertising-financed, cheaper subscription, which the service wants to set up in cooperation with Microsoft, should also ensure increasing numbers of subscribers. The starting signal for this should be given at the beginning of 2023.

Advertising on Netflix: Start date for cheap subscription known

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