Hindi

Netflix Loses almost  Million Subscribers In the Second Quarter

Avatar of Yashi Sharma
BtzyAABs1QOWgAAAABJRU5ErkJggg== Netflix Loses almost  Million Subscribers In the Second Quarter
Netflix logo seen on the backdrop of Netflix’s “Stranger Things 3” premiere at Santa Monica high school Barnum Hall on June 28, 2019 in Santa Monica, California. (Photo by Chris Delmas / AFP) (Photo credit should read CHRIS DELMAS/AFP via Getty Images)

Netflix reported on Tuesday losing subscribers for the second quarter in a row as the streaming giant battles intense competition and demand.

The loss of 970,000 paying customers in the most recent quarter, however, was less than expected, leaving the company with just  221 million subscribers.

“Our challenge and opportunity are to accelerate our revenue and membership growth… and to better monetize our big audience,” the firm said in its earnings report.

After years of accumulating subscribers, Netflix lost 200,000 customers worldwide in the first quarter compared to the end of 2021.

Netflix executives have also made it clear the company will get tougher on sharing logins and passwords, which allow many people not to pay to access the platform’s content.

“It’s great that our members love Netflix movies and TV shows so much they want to share them more broadly,” director of product innovation Chengyi Long said Monday in a blog post.

“But today’s widespread account sharing between households undermines 

our long-term ability to invest in and improve our service.”

Total
0
Shares
Previous Post
Sri Lanka: Ranil Wickremesinghe elected as Sri Lanka President.

Sri Lanka: Ranil Wickremesinghe elected as Sri Lanka President.

Next Post
Blinken thanks India for providing medical supplies to the US during the Covid-19 outbreak

Blinken thanks India for providing medical supplies to the US during the Covid-19 outbreak

Related Posts