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Friday, February 3, 2023

Netflix loses nearly a million subscribers in the most recent quarter



Netflix this Tuesday announced the loss of 970,000 subscribers in the most recent quarter, a result that reinforces the company’s decision to extend the fee to account-sharing users looking for new opportunities to cash in after years of massive growth to earn.

“First of all, we must continue to improve all aspects of Netflix,” the company said in a letter to shareholders, adding that its focus will remain on its core service of delivering streaming content to subscribers, such as The New York. has collected Mal’.

Netflix, for example, confirmed in its earnings report that it lost almost a million subscribers. This is the largest loss of subscribers in the company’s history, but a far cry from the two million originally forecast in its April report.

Also, the content platform has reported that it will ask customers in five Latin American countries to pay an additional €2.92 ($2.99) per month to add a “home away from home” to their accounts.

“This focus on member selection and control informs all aspects of our strategy and creates what we believe to be a significant long-term business advantage,” the company said in the letter.

The company aims to launch its cheapest ad tier in early 2023 in “fairly few markets with significant ad spend,” development analysts are cautious about.

“Beyond additional subscriptions, the ads will also give Netflix an edge in the form of a new revenue stream from brands striving to reach the platform’s audience,” said Forrester Vice President Mike Proulx.

On the other hand, it has reassured investors that it could win back a million subscribers in the next quarter. Netflix now has around 220.7 million subscribers worldwide.

Netflix has spent the last three months adjusting its business to meet the challenges it faces for the rest of the year. The company laid off around 450 employees.


Source europapress.es

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