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Netflix Loses Almost 1 Million Subscribers In Second Quarter

Netflix Loses Almost 1 Million Subscribers In Second Quarter

Netflix Loses Almost 1 Million Subscribers In Second Quarter

Netflix Loses Almost 1 Million Subscribers In Second Quarter

The massive streaming service Netflix reported a startling 970,000 subscriber decline in the second quarter of 2022.

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In the first quarter of 2022, the firm lost roughly 200,000 members, the most in almost ten years.

According to Netflix, obstacles limiting its development include the time it takes for houses to acquire smart televisions and affordable broadband internet service, as well as users sharing their accounts with others who don’t live in their homes.

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However, the current figures outperformed earlier predictions made by the firm itself, which forecast a loss of 2 million customers by Q2 earlier in the year.

Netflix Loses Almost 1 Million Subscribers In Second Quarter

In a Securities and Exchange Commission filing, Netflix expressed optimism and confidence in its ability to weather the storm, the NBC News reports.

“Reaccelerating our revenue growth is a big challenge,” the statement read, “But we’ve been through hard times before. We’ve built this company to be flexible and adaptable and this will be a great test for us.

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“We’re confident and optimistic about the future.”

Despite the loss, the company forecasts that about one million new subscribers will join the service by the end of the third quarter.


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