As predicted, Netflix suffered another massive subscriber loss in its second quarter this year, losing 970,000 accounts in total.
Netflix reveals that the company lost nearly 1 million subscribers in three months. Back in 1998, consumers paid a relatively low monthly fee to Netflix to have an unlimited amount of DVDs sent to their homes in a red envelope. Since then, Netflix has evolved into a streaming giant. It has launched numerous original series and Oscar-winning movies, paved the way for other streaming services to form and led to the decline of video rental stores.
Since 2014, Netflix has increased its subscription prices several times, with the cost of a standard plan now toting a price tag of $15.49.Once hailed as the leader of the streaming service world, Netflix has recently endured several setbacks. Now the most expensive streaming service among its competitors - such as HBO Max, Prime Video, and Disney+ - the company revealed it had lost 200,000 subscribers at the beginning of 2022. That was the first time it has suffered a loss in a decade.
At this time, Netflix appears to have a game plan to repair the company's recent blunders and predicts that it will add 1 million subscribers in its third quarter of 2022. The streaming giant seems to have experienced a wake-up call and has taken its plan costs for consumers into consideration. Reportedly, Netflix has started workshopping a partnership with Microsoft to launch cost-friendly, ad-supported plans in early 2023.
For now, Netflix remains the home base for some of the most marketable content in the entertainment industry, including binge-worthy television shows like Stranger Things, Squid Game, Cobra Kai, and more. On the movie side, this week sees the release of the Russo Brothers' The Gray Man, and the rest of the year has the upcoming arrival of Knives Out 2. Netflix has experienced a jarring subscribers loss, but the company could bounce back.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Netflix lost nearly 1 million subscribers last quarter | EngadgetNetflix says it lost nearly 1 million subscribers in Q2, although that's not as bad as feared..
Read more »
Netflix earnings are out - the company lost almost 1 million subscribers in Q2Netflix reported its latest quarterly earnings on Tuesday, July 19. The streamer lost a little less than 1 million subscribers.
Read more »
Netflix Lost 970,000 Subscribers in Q2, Beating Its Estimate by More Than 1 Million SubsNetflix reported its second-quarter 2022 earnings Tuesday, revealing it lost 970,000 subscribers during the three-month period that included the launch of the first part of “Stranger Things” Season 4.
Read more »
Netflix lost fewer subscribers than expected and projects to win them back quickly, boosting stockNetflix lost fewer subscribers than expected in the second quarter and expects to add even more in the current quarter, helping the stock shoot higher in late trading Tuesday. $NFLX reported a net loss of 970,000 paid subscribers in the second quarter.
Read more »
Deerfield man gets 65 years in prison for ‘heinous’ killing of wife; ‘Everyone loses. Your children ... lost their mother, and you lost’Kamen admitted to killing his wife, Karyn, in a brutal and heinous manner. That made him eligible for a sentence longer than the usual 60-year maximum term for first-degree murder.
Read more »