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Netflix subscribers drop by nearly 1 million in Q2

Netflix paid subscribers are down more than quadruple of Q1's losses with a near 1 million subscriber drop across the globbe.

Published Jul 19, 2022 5:32 PM CDT   |   Updated Thu, Aug 11 2022 4:32 AM CDT

Netflix reports its second quarter of subscriber losses in a row for its Q2 period.

Netflix subscribers drop by nearly 1 million in Q2 3 |

Netflix subscriber losses have more than quadrupled over Q1, new earnings reports have confirmed. The streaming giant lost 969,000 subscribers in its Q2 period, its largest reduction in subscribers to date. From January - June 2022, Netflix subscribers have dropped by over 1.1 million across the globe.

Netflix subscribers drop by nearly 1 million in Q2 2 | TweakTown.comNetflix subscribers drop by nearly 1 million in Q2 4 |

The company also says that its ad-based plans may be years away, and that it will continue experimenting with its paid sharing plans which require users to pay an extra fee to share their Netflix subscriptions with users in other households.

We're in the early stages of working to monetize the 100m+ households that are currently enjoying, but not directly paying for, Netflix. We know this will be a change for our members.

As such, we have launched two different approaches in Latin America to learn more. Our goal is to find an easy-to-use paid sharing offering that we believe works for our members and our business that we can roll out in 2023. We're encouraged by our early learnings and ability to convert consumers to paid sharing in Latin America.

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Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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