Netflix got off to a rough start during 2022’s Q1. After losing 200,000 subscribers, the streaming platform faced backlash for a multitude of items. Most prominently, the company laid off numerous employees while also planning for the addition of ad-supported content. Now, though, Netflix is headed toward redemption, even after announcing its partnership with Microsoft to begin incorporating ads. The newest reports reveal Netflix has maintained more subscribers than expected for Q2. Overall, the company lost fewer than one million subscribers, succeeding expectations.
According to Deadline, Netflix specifically reported a loss of 970,000 subscribers for Q2. It ended the quarter with a total of 220.67 million subscribers. Overall, the outlet states the loss is still pretty significant—especially if you consider that Netflix has remained the world’s leading streaming platform for years. However, compared to the company’s expected loss ranging between 1.5 and two million, it definitely exceeds the first quarter’s numbers.
In addition, the outlet reports Netflix’s overall revenue increased by 9% to $7.97 billion. Simultaneously, shares were worth $3.20 while, a year ago, they sat at $2.97.
Overall, the streaming company appears to be on the upswing. And that’s despite Q1 marking its first year-over-year subscriber decline in more than a decade. With Netflix making significant changes amid some of the worst inflation rates the country has ever seen, it’ll be interesting to see whether the streaming platform makes further gains in the coming months.
Netflix to Launch a New Crackdown on Password-Sharing In 5 Latin American Countries
Ads are the only new feature finding their way to Americans’ former favorite streaming platform. After using its adless content as a major marketing tool for years, the company is slowly moving away from that. In addition, Netflix has also drawn outcries from subscribers after announcing plans for a password-sharing crackdown several months ago. Now, amid the company’s endeavor to introduce ad-based content to its platform, Netflix also plans to launch a new password-sharing crackdown. The crackdown will take place in five additional Latin American countries.
Several months ago, Netflix had introduced its password-sharing crackdown in three Latin American countries including Peru, Costa Rica, and Chile. However, at the time, the new plan saw limited success. Essentially, some families and users experienced the extra charge for password sharing while others were completely unaware of the change entirely. It caused a rift between subscribers and company representatives.
Months following the shift in subscription plans, users in these countries are paying between $2 and $3 a month to add an “Extra Member.”
Now, the streaming platform intends to unleash a new password-sharing crackdown, this time in Argentina, the Dominican Republic, El Salvador, Guatemala, and Honduras. Similar to its first rollout, the new crackdown will see users have the option to add an additional home to their plan for a significantly lower cost than a single subscription.