Netflix released its latest financial results and revealed that it lost over 970,000 subscriptions between April and June 2022. That’s an impressive number, but half of the 2 million projected in the previous financial report.
After losing 200,000 subscribers at the start of the year (in addition to the more than 700,000 it lost after the Russian service was discontinued), Netflix warned that the fall would continue, but the figure was no closer to its 2 million estimate. was less than half of it.
Netflix currently has over 220,000 subscribers and is looking to gain 1 million subscribers between July and September 2022, basically regaining a number close to the one it just lost.
During this period, Netflix accumulated $7.97 billion and was very close to Wall Street’s forecast, up 8.6% year-over-year.
In the latest report to shareholders and investors, Netflix once again outlined its efforts to end password sharing and introduce cheaper, ad-supported options. This should happen in early 2023, and the company has high hopes for this option where you pay less and watch ads during TV shows or movies.
Netflix wants to launch this feature as soon as possible and then improve it based on customer feedback, but believes advertising will be a very important part of its business. Increasing the number of subscribers attracted by the cheaper option and generating more ad revenue seems like a doubly positive thing for the company.
