News

Netflix Lost 1 Million Users This Year!

Netflix Lost 1 Million Users This Year!

United States-based production company Netflix had expected a tough second-quarter report with a sharp decline in subscription sales, but the financial report released today showed a less eerie picture below the company’s expectations. Netflix expected a loss of 2 million users between April and June, but lost 970 thousand users . This resulted in a 7 percent increase in share prices in after-hours trading.

Although the company lost 1 million users, these losses did not affect earnings, it achieved an increase of 8.6 percent in revenue. Netflix explained that this is due to the increase in average paid memberships and ARM (Average Revenue Per Membership). The figure could have been even higher, but Netflix lost $339 million due to the currency effect.

Netflix strengthens its position globally, negatively impacting its strong dollar-based results. Netflix also warns of the challenges ahead and makes its investors aware of short- and long-term steps to increase sales. The company’s forecast for the third quarter of 2022 shows that the number of subscribers increased by 1 million compared to 4.4 million in the third quarter of 2021.

Most Popular

To Top