In the second quarter, Netflix only lost 970,000 subscribers

In the second quarter, Netflix only lost 970,000 subscribers ...

Eleven seems to be saving more money than Hawkins, thanks to Stranger Things 4, which helped stop the bleeding on Netflix's subscriber losses in the first quarter of 2022. The streaming company lost about one million subscribers (9170,000 to be exact) in the second quarter of 2022, compared to the first quarter projection.

Netflix's current worldwide subscriber base is 220.67 million, and the streamer intends to restore that lost million in the third quarter.

Netflix announced that it had lost 200,000 subscribers in the first quarter of the year, along with a projected loss of two million in the second quarter. As a result, shares in the company have dropped 46% since the announcement, and a staggering 70% since the start of the year.

While subscriber numbers for the second quarter didn't completely bounce back, a loss of one million is significantly lower than what was projected, and can certainly be attributed (at least partially) to stronger than expected viewing numbers for Netflix's massive hit,Stranger Things. With seven episodes of the season falling during the second quarter, and two additional (massive hit) episodes falling during the third quarter, it is possible that those numbers will stop declining altogether and start Running up that hill.

Reed Hastings, the company's CEO, announced in April that it would eventually add a lower subscription tier that would display advertisements, something he had previously not supported.

The streamer has also laid off nearly 450 employees and is planning to crack down on password sharing. Despite the fact that there are nearly 222 million households with access to Netflix, the company estimates that over 100 million households have access to the streaming service by using someone else's password.

The future of subscribers for the long-standing streaming service may be questioned. However, with the upcoming fifth seasons of Cobra KaiandThe Crownas as well as other highly-anticipated works, they may be able to close the year strong.

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