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Netflix Lost 970,000 Subscribers in Q2


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Posted

Stranger-Things-4.jpg

 

Quote

Netflix reported its second-quarter 2022 earnings Tuesday, revealing it lost 970,000 subscribers during the three-month period that included the launch of the first part of “Stranger Things” Season 4. While that’s obviously a hit to the overall tally the platform prides so much, it’s much less of a hit than Netflix had forecast.

The streamer had projected a net loss of 2 million streaming subscribers for the second quarter, which spans April 1-June 30, following a surprise decline of 200,000 in Q1 (which included the loss of 700,000 Russian customers after exiting the country over the invasion of Ukraine).

Netflix revealed in its Q2 letter to shareholders it currently has 220.67 million subscribers globally and is expecting to return to gains in Q3, projecting an addition of 1 million subs from July 1-Sept. 30.

https://variety.com/2022/tv/news/netflix-subscribers-q2-earnings-1235318787/

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I have netflix for free and literally never even use it, most of the content sucks so I'm not surprised

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Not surprised. There's way too much on there and most of it is bad. 

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I mean, the cut Russian subscribers so it was expected

 

Anyway, it's what they deserve for cancelling season 4 of GLOW

 

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And they just keep making it worse to make up for lost subscribers, ads AND a fee to share passwords? :deadbanana2:

 

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Stranger Things was a cultural phenomenon, it's just that most people used TikTok snippets to watch it.

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Losing even more now that they are forcing users to pay an extra fee to share accounts in latin america :gaycat2:

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Down 200k Q1 then 900k Q2, i see a pattern, spotify next! 

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They lost when they let Betty La Fea go

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Nowadays I only use HBO Max. Haven't opened Netflix or any other TV streaming since forever. Except Prime Video for The Boys only, but that was it.

Posted
33 minutes ago, McNulty said:

Netflix reported it lost 970,000 subscribers 

The streamer had projected a net loss of 2 million streaming subscribers for the second quarter

Netflix revealed it currently has 220.67 million subscribers globally

is expecting to return to gains in Q3, projecting an addition of 1 million subs

This is hilariously NOT bad at all.  Reading the news would make you think they're on the verge of bankruptcy while they're making billions per year from that subscriber base  :deadvision:

Posted (edited)

Expected. When inflation is so high and so many people are struggling, it’s only natural that people would review what they spend their money on and cut out non-essential crap like this.

Edited by Daydream
Posted
6 minutes ago, tost1 said:

Who uses netflix in 2022

220 million plus people. 

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They didn’t lose as much as projected so it’s actually good news for now :michael:

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13 minutes ago, Archetype said:

This is hilariously NOT bad at all.  Reading the news would make you think they're on the verge of bankruptcy while they're making billions per year from that subscriber base  :deadvision:

It's by far the biggest streaming platform on the planet. With all the competition from Disney, Peacock, HBO, etc. they're still gaining revenue. Hence the stock being up +10% on this news. Atrl users are unable to think for themselves and read beyond a headline. Surprised? 

Posted
23 minutes ago, Archetype said:

This is hilariously NOT bad at all.  Reading the news would make you think they're on the verge of bankruptcy while they're making billions per year from that subscriber base  :deadvision:

 

8 minutes ago, Dephira said:

It's by far the biggest streaming platform on the planet. With all the competition from Disney, Peacock, HBO, etc. they're still gaining revenue. Hence the stock being up +10% on this news. Atrl users are unable to think for themselves and read beyond a headline. Surprised? 

I don’t know how to tell you both this but revenue does not equal profit and at this point Netflix has been hemorrhaging subscribers for 2 quarters. The stock is up 10% because the media was reporting potentially 2M subscriber losses, but that’s literally just media manipulation. Just because of some random spurt of optimism does not mean Netflix is not in hot water as their expenses grow and their business slows.

 

They could easily reverse this by investing in content that is not Disney channel for adults but alas that is too much to ask.

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51 minutes ago, Bloodflowers. said:

Anyway, it's what they deserve for cancelling season 4 of GLOW

 

SPEAK ON IT :fish2:

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1 hour ago, Trash said:

They lost when they let Betty La Fea go

They're so wrong for that, they put it out when it was still top 10 in the app, the racism of it all.

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The energy crisis in the uk and leaving the Russian market will have helped 

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970,000! Outperforming our faves - a nearly platinum drop.

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Capitalism really expects Netflix to have 9 billion subscribers while there are only less than 8 billion people on the planet 

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They'll get them back once they drop the new season of Babylon Berlin :duca:

Posted
2 hours ago, Trash said:

They lost when they let Betty La Fea go

The original owner of the show sold all the distribution rights to Amazon, so I don't think there was much they could do about it.

Posted

I was about to cancel it but Resident Evil basically saved it.

 

They need shows with a lot more episodes and some with less.

 

I can finish a show in 3 days and they don’t have old classic series to entertain me while the other big shows come back.

 

There’s just a huge void that they can’t fill between each series premiere

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