Netflix lost 970,000 subscribers last quarter, less than expected

In the last quarter’s financial report , Netflix pessimistically predicted that it would lose another 2 million subscribers, causing their stock prices to plummet. At the same time, it also took a series of measures to reduce revenue and expenditure, including layoffs and the implementation of new programs with advertising. However, the financial report for the second quarter of 2022 shows that in fact, “only” 970,000 users chose to unsubscribe in the past 3 months, which is more than half less than expected, but still much more than the 200,000 unsubscribe number in the previous quarter. .

According to Netflix’s analysis, they have “better-than-expected” subscription growth in the Asia-Pacific region, and even with a strong dollar and declining subscribers, they still have an overall net income of $1.44 billion. After all, the streaming platform’s revenue is in the Nearly 60% were brought from outside the United States. 

After seeing that the data is not so pessimistic, Netflix’s tone has also softened, and it is expected to resume the upward trajectory in the third quarter, while predicting that it will add 1 million subscribers.

It is believed that the launch of the long-awaited “Stranger Things 4 ” is one of the incentives for users to stay on Netflix. The data also shows that “Stranger Things 4” has become the most watched English drama on the platform with more than 1.3 billion hours of viewing. set.

On the other hand, Netflix revealed that the advertising subscription plan launched in cooperation with Microsoft will be launched in early 2023, and will first be launched in some regions that already have active advertising activities. At the same time, it will continue to strengthen the identification of “streaming parasites”, allowing users to actively pay in exchange for watching elsewhere.

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