Netflix has lost a record number of subscribers since last year. He shared this in the earnings reports shared by the company itself. Although its revenue has increased significantly, more than 1 million people have unsubscribed from the platform.
Netflix has lost over 1 million subscribers!
Netflix lost more than 200,000 subscribers in the first three months of this year. Moreover, this does not include its more than 700 thousand users in Russia, where it stopped its services. Now he shared the situation from April 1 to June 30.
Accordingly, the company lost 970 thousand subscribers in 3 months. Of course, they said that they expected a loss of 2 million subscribers in the second quarter, and they were satisfied with the situation as they were much lower than this. Because they aim to gain 1 million new subscribers in the third quarter.
Netflix will charge extra for account sharing users!
Netflix has announced that it will begin testing the new “add home” feature to charge users who share their accounts with others.
In fact, there are many people who attribute the less-than-expected loss to the 4th season of Stranger Things. When we look at the viewership data, we can accept that this is mostly true, as it leaves even Squid Game far behind.
However, the company is aware of the danger. Many digital streaming platforms like Disney+ and HBO Max are coming from strength to strength. Moreover, they seem much more advantageous on the price side. They are also announcing millions of new subscribers, not a loss of subscribers like Netflix.
Therefore, Netflix is trying to create more subscriptions by preventing password sharing and launching its new service with ads. But still, such a big drop is a warning for all platforms.
On the revenue side, there are positive developments for the company. According to the announcement, there was an increase of 8.6 percent in the money entering the safe compared to the same period of the previous year, that is, in the second quarter. As a result, its revenue increased from $7.3 billion to $7.9 billion.
The company’s net profit rose 6.5 percent. According to the shared data, it increased from $ 1.3 billion to $ 1.4 billion. That is, even though revenue increased by $600 million, net profit increased by around $100 million.
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