In the first quarter, Netflix had experienced a historic drop in its number of subscribers. A loss of 200,000 subscribers over the first three months of the year, while the SVOD giant had anticipated a gain of 2.5 million subscribers.
In the second quarter, Netflix lost even more subscribers, i.e. 970,000 for a total of paying subscribers which stood at 220.67 million at the end of June. However, this time it’s better than expected. Between the first and second quarters, Netflix had indeed expected a loss of 2 million subscribers.
In detail by region, Netflix lost 1.3 million subscribers in the UCAN zone (USA and Canada) and 770,000 in the EMEA zone (Europe, Middle East and Africa). On the other hand, it is a gain of 10,000 subscribers in the LATAM zone (Latin America) and 1.08 million in the APAC zone (Asia-Pacific).
Netflix expects a rebound this summer
For the third quarter, Netflix plans to return to the path of subscriber growth. Overall, the group expects to regain one million subscribers between July and September. With 221.67 million paying subscribers, however, this would be less than the number of subscribers at the end of 2021 (221.84 million).
The turnover of the Los Gatos group reached 7.97 billion dollars in the second quarter, up 8.6% year on year. The average income per subscriber increased by 7% and the quarterly net profit generated was 1.44 billion dollars (+6.6%).
Unlike the publication of the first quarter results, the publication of the second quarter results did not lead to a stock market sanction for Netflix. Its share price is on the rise.
.
The post Netflix experiences its biggest loss of subscribers appeared first on Gamingsym.