Netflix subscribers drop by nearly 1 million in Q2

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

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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.

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.