Netflix lost almost a million subscribers during the second quarter of 2022

Netflix ‘s losing streak  continues during the second half of the year after losing 200 thousand subscribers in the first.

Netflix has announced that it has lost close to a million subscribers during the second half of 2022.

The announcement, made during its quarterly investor call, shows that the strategies provided by the platform to avoid sharing passwords are negatively affecting internal numbers .

netflix down

According to Netflix itself , at the end of June 220.67 million subscribers were reported compared to 221.64 million in the first quarter, that is, about 970 thousand fewer users. 

However, for them it is not all bad, since the financial director, Spence Newman. he had speculated that up to two million could be lost during such a cycle.

Already during the first quarter, a decline of 200 thousand subscribers had been announced and the global economy, the war in Ukraine and the exchange of accounts were cited for the slowdown in its subscriber growth. However, for this greater decrease, no reasons for the fall are mentioned or argued.

Moreover, the company indicates that, possibly, the extra charge for sharing accounts, which is currently being tested in some countries such as Peru, will be extended to the rest of the regions where it is active.

Plans for 2023: the arrival of announcements

After providing the figures, Netflix has prioritized praising its existing content.

It also reiterated its upcoming plan for a lower-priced ad tier in partnership with Microsoft , which now appears to be dropping as early as 2023.

But interestingly enough, Netflix is ​​projecting a million-subscriber rebound in the next quarter, largely thanks to Stranger Things season 4 . Mind you, he also expects revenue growth to remain stagnant year-over-year, expecting just 5% growth in the third quarter.