It’s been revealed that Netflix has lost fewer subscribers than they expected to lose in the past quarter of the year, but that’s still not great news!
Netflix has been haemorrhaging subscribers over the past few years.
This was revealed during Netflix’s investors’ call yesterday (via CNBC).
The streaming platform revealed that it ended up losing fewer subscribers than anticipated during the second quarter.
Last quarter, Netflix warned investors that it expected to shed around 2 million subscribers.
However, they announced yesterday that they had ended up losing about 970,000 during the three-month period ending June 30.
OK, so this isn’t the 2 million they had expected to lose, but it’s still not good.
It’s close to 1 million subscribers and it’s more proof that Netflix really needs to look at how it operates.
One of the main reasons why people are opting to cancel their subscriptions to the streaming platform is because people are struggling financially and it’s just becoming too expensive.
Netflix has lost a lot of subscribers, but not as much as they were expecting to lose
There’s also the added issue that Netflix is just not promoting its content well enough.
They are also not making new content that people will want to subscribe to their streaming platform to watch.
The streaming platform is also spending a lot of money on acting talent such as Dwayne Johnson, Ryan Gosling, Ryan Reynolds, Chris Evans and Gal Gadot.
It’s such a shame because I love Netflix and I really don’t want the business to fail.
But, as it stands, Netflix’s business model is just not sustainable.
That said, they did announce that they will unveil its lower-cost, ad-supported tier in early 2023.
This news comes just after Netflix tapped Microsoft to be its partner on the ad-supported offering.
It’s going to be an interesting few years for Netflix.
What do you make of this news?
Are you worried about Netflix’s future?
Let us know your thoughts in the comments below.
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