Netflix Subscriber Count In the US, Canada Dropped By 1.3 Million Over the Last Three Months (theverge.com) 119
After Netflix reported losing subscribers for the first time in over a decade last quarter, the company's Q2 earnings report revealed (PDF) the number of worldwide subscribers dipped by 1 million, including a drop of 1.28 million in the US and Canada alone. The Verge reports: That's better than its projection of losing 2 million worldwide, but the subscriber shortfall in the US and Canada is double the 600,000 drop it reported for Q1. Netflix now reports it has 73.28 million paid subscribers in the US and Canada, and 220.67 million worldwide.
Revenue increased 9 percent year over year from $7.3 billion in 2021 to $7.97 billion this quarter. Although the streamer ran into a couple of hiccups in recent months, including two separate layoffs affecting hundreds of workers, there was some good news. The season 4 release of Stranger Things boosted the series to the second most-watched show on the service, trailing behind the Korean-language hit Squid Game, which Netflix announced in June will be returning for a second season. Last week, Netflix announced a partnership with Microsoft on a new lower priced ad-supported subscription plan that it expects to launch by early next year. Netflix execs remain optimistic about the prospect of an ad-supported tier, noting that "over the long run, we think advertising can enable substantial incremental membership (through lower prices) and profit growth (through ad revenues)."
The company also recently began its crackdown on password sharing by creating an "extra member" fee for users who share accounts with people they don't live with. "The extra member fee of about $2 to $3 per month was implemented in Chile, Costa Rica, and Peru, with Netflix saying it would evaluate the rollout before making changes in other countries," reports Ars Technica.
Revenue increased 9 percent year over year from $7.3 billion in 2021 to $7.97 billion this quarter. Although the streamer ran into a couple of hiccups in recent months, including two separate layoffs affecting hundreds of workers, there was some good news. The season 4 release of Stranger Things boosted the series to the second most-watched show on the service, trailing behind the Korean-language hit Squid Game, which Netflix announced in June will be returning for a second season. Last week, Netflix announced a partnership with Microsoft on a new lower priced ad-supported subscription plan that it expects to launch by early next year. Netflix execs remain optimistic about the prospect of an ad-supported tier, noting that "over the long run, we think advertising can enable substantial incremental membership (through lower prices) and profit growth (through ad revenues)."
The company also recently began its crackdown on password sharing by creating an "extra member" fee for users who share accounts with people they don't live with. "The extra member fee of about $2 to $3 per month was implemented in Chile, Costa Rica, and Peru, with Netflix saying it would evaluate the rollout before making changes in other countries," reports Ars Technica.