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Netflix subscribers in the US and Canada have fallen by 1.3 million in the last three months

Netflix subscribers in the US and Canada have fallen by 1.3 million in the last three months

Admin | Post Wednesday, 20 July 2022 - 11:24 AM | 51

After Netflix reports Losing subscribers for the first time in over 10 years Last quarter, Company second quarter financial report It revealed that the number of subscribers worldwide has decreased by 1 million. This includes a 1.28 million decline in the United States and Canada alone from the end of March to the end of June. This is better than the forecast of losing 2 million worldwide, but the subscriber shortage in the US and Canada is twice the 600,000 decline reported in the first quarter. Netflix currently reports 73.28 million paying subscribers in the United States and Canada, and 220.67 million paying subscribers worldwide.

This will be almost a week After Netflix announces a partnership with Microsoft With a cheaper ad support hierarchy that will be available by early next year. In the letter, Netflix emphasizes that the current plan remains ad-free. ?In the long run, we believe that advertising will enable a significant increase in membership (due to lower prices) and profit growth (due to advertising revenue),? said a Netflix executive. I?m optimistic.

The plan is to deploy it in the market where advertisers spend the most money first. ?Our hope is to create a better advertising model than Linear TV, which is more seamless, consumer-relevant, and more effective for our advertising partners,? said a Netflix executive. However, due to the content license agreement, not all content is available in your ad support the meantime Revenue phoneTed Sarandos, Netflix Co-CEO and Chief Content Officer, said the company ?clears some content, but certainly not all? by the time the new tier begins. ..

Netflix adds that viewing time has also increased. This is because, according to a survey conducted by research firm Nielsen, Netflix?s share of TV viewing in the United States rose to a record high of 7.7% in June 2022, compared to 6.6% in June last year. is showing.

Revenue is $ 7.3 billion in 2021 That?s $ 7.97 billion this quarter. Streamers have run into some issues in the last few months, 2 Individual temporary dismissal It affected hundreds of workers and there was some good news. The Season 4 release Stranger Things Boosted the series The second most watched show on the service,end Behind the Korean hit Squid gameWhich Netflix was announced in June I?m back in the second season. In Netflix?s revenue report, the company Acquired Animal LogicAnimation studio behind Lego movie..

The ad-supported tier is just one of the ways Netflix is ??looking to combat the decline in subscribers.It is also part of the company?s efforts Hang on what it already has.. However, Netflix also wants to lock in free subscribers, partially blaming password sharing for the first decline in subscribers last quarter.

Netflix executives say they are working towards discovering an ?easy-to-use paid sharing service? that they are aiming to launch in 2023. March, Netflix Testing in Chile, Costa Rica and Peru This allows users to add sub-accounts for users who are outside the primary account owner?s household. Netflix has expanded its efforts to crack down on password sharing this week Users of Argentina, El Salvador, Guatemala, Honduras, Dominican Republic Buy an additional ?house? outside your primary household that allows you to use Netflix on all your devices.

Perhaps one of the biggest threats Netflix faces is intensifying competition with new players in the streaming industry such as Disney Plus, Paramount Plus and HBO Max. Last quarter, Paramount Plus subscribers have increased to about 40 million, HBO and HBO Max have added an additional 13 million subscribersWhen Disney Plus also gained 8 million new users..Disney plus There are already plans to launch a hierarchy to support advertising See you later this year Use livestreaming for specific series like Dance with the stars ? Something Netflix is ??currently being tested..

Updated to ET at 6:24 pm on July 19: Updated to include more information about phone ads for Netflix revenue.

Disclosure: The Verge I recently made a series on Netflix..