Published 2 years ago

Netflix loses almost a million subscribers as cost of living crisis takes toll on budgets

Summary by Ground News

Netflix shed almost 1 million subscribers during the spring amid tougher competition and soaring inflation. The April-June contraction of 970,000 accounts is by far the largest quarterly subscriber loss in the company's 25-year history. Despite the downturn, Netflix still earned $1.4 billion, or $3.20 per share during the quarter.

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Times of India

Netflix loses nearly 1 million subscribers, forecast misses Street estimates - ET BrandEquity

Netflix had warned in April that it expected to lose 2 million customers in the current quarter, shocking Wall Street and raising questions about its ..

2 years ago·India

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BBC News

Netflix subscriber losses grow

The streaming giant saw subscribers fall by almost 1 million - not as much as feared.

2 years ago·United Kingdom

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News18 India

Netflix Loses About 1 Million Subscribers In Q2; Still Less Than Anticipated Loss

Netflix shed almost 1 million subscribers during the spring amid tougher competition and soaring inflation that's squeezing household budgets, heightening the urgency behind the video streaming services effort to launch a cheaper option with commercial interruptions.

2 years ago·India

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The Hindu

Netflix Q2 subscriber loss widens, but not as much as feared

Netflix shed another 970,000 subscribers during the spring, increasing the urgency behind the effort to launch a cheaper option with commercial interruptions

2 years ago·India

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Reuters

Netflix soothes Wall Street concerns with customer growth forecast

Netflix Inc on Tuesday averted its own worst-case scenario of subscriber losses, posting a nearly 1 million drop from April through June, and predicted it would return to customer growth during the third quarter.

2 years ago·United Kingdom

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NDTV

Netflix Loses Nearly 1 Million Subscribers In 2nd Quarter

Netflix reported on Tuesday losing subscribers for the second quarter in a row as the streaming giant battles fierce competition and plateauing demand.

2 years ago·New Delhi, India

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