Lagatar24 Desk
New Delhi, July 20: The number of Netflix subscribers keeps decreasing. Tuesday saw the publication of the company’s second-quarter results statement (Q2 2022), as well as an earnings interview in which it emphasised subscriber losses for two consecutive quarters for the first time ever. In the June quarter, it lost around 970,000 paid customers, which is still less than the two million it had anticipated losing. The massive streaming service lost approximately 200,000 paid users in the March quarter (Q1 2022).
There are currently 220.67 million paid members globally, according to the company due to the release of its most well-known English-language programme, Stranger Things Season 4 Volume 1 and 2, it also anticipates adding a million new members in the upcoming quarter. Additionally, the firm released fresh episodes of other well-liked shows including Better Call Saul and Peaky Blinders, which may have increased subscription numbers for the September quarter.
The business executives are nonetheless upbeat about this quarter (Q3 2022). Interestingly, despite a decline in subscriber numbers, the corporation nonetheless experienced revenue growth in Q2 2022 (9% rise YoY). In the next quarter, a decline in revenue is anticipated.
In its quarterly report, Netflix says, “The appreciation of the US dollar (USD) vs. most other currencies since our April earnings report was the primary reason for the variance to our revenue guidance forecast”.
