Netflix admits to losing almost a million subscribers in the last quarter

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the giant of streaming Netflix announced this Tuesday (07.19.2022) that it lost 970,000 subscribers between the first and second quarters of the year, less than the two million it expected.

Thus, the result reinforces the company’s decision to extend the charge to users for sharing accounts, in search of new ways to earn money after years of massive growth.

For example, the content platform has reported that it will ask customers in five Latin American countries to pay an additional 2.92 euros ($2.99) per month to add a “second home” to their accounts.

Netflix has spent the last three months adjusting its business to meet the challenges it expects to face the rest of the year. The company has laid off about 450 employees.

“First of all, we need to continue to improve all aspects of Netflix,” the company said in a letter to shareholders, adding that its focus would remain on its core service of providing streaming content. streaming to subscribers, as collected by The New York Times.

The pay-TV service, which now has 220.67 million subscribers worldwide, disappointed the market in April when it admitted losing subscribers for the first time in ten years in the first quarter.

The news was taken in stride by the market, with Netflix shares up more than 8% in after-hours electronic trading on the New York Stock Exchange.

The Californian firm published a turnover of 7,970 million dollars between April and June, below expectations. He attributed the lower-than-expected figure to an exchange rate effect.

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