Netflix lost nearly 1 million subscribers in Q2 2022

Netflix announced on Tuesday that it lost 970.000 subscribers during the second quarter of the year ended June 30. While the loss is far less than the ‘2 million’ prediction the company made in April for Q2, it’s still the highest number of users the company has ever lost in a single quarter.

2022 hasn’t been very fruitful for the streaming giant which lost another 200.000 subscribers in the first quarter and recently laid off more than 300 employees due to its rising costs. 

In its letter to shareholders, Netflix said it currently has 220.67 million subscribers and expects this number to increase by one million in the third quarter. 

Also Read: Netflix Revenue and User Statistics (2022)

The company recently announced a partnership with Microsoft for its upcoming ad-supported tier which it plans to launch in early 2023. In the letter, it said it’d focus on better monetization of the platform by ‘optimizing’ the current prices and launching the new ad-supported tier.  

In addition, Netflix also started testing a new feature called ‘Add A Home’ to charge users who share their accounts with other people. In the letter, the company said: ‘’We’re encouraged by our early learnings and ability to convert consumers to paid sharing in Latin America.’’

Last year, the company announced that it’d be now primarily focused on mobile games saying they would be included in subscriptions without an extra cost. Following the acquisition of several developers such as Boss Fight Entertainment, Next Games, and Night School Studio, the company recently announced a series of new games inspired by its popular productions including ‘The Queen’s Gambit’ and ‘La Casa De Papel’. 

Check out all the Netflix video games you can play now on your Android and iOS devices.