Netflix lost a record 1.3 million subscribers in the US and Canada in Q2 2022, according to new data.
The company made the announcement at its earnings call, revealing it had 73.28 million paid memberships in the period, down from 74.58 million in Q1 2022. It represents a loss of 1.3 million US and Canadian subscribers, but the company did gain subscribers in other territories, meaning its total loss stood at 970,000 subscribers around the world. It’s 200,000 more than it lost in the first quarter of the year.
However, the company said it was expecting to lose as many as 2 million subscribers in the period.
The streaming giant has faced some serious heat recently, having increased its prices around the world and introducing new features such as a block on password sharing. The company’s prices in the United States jumped from $8.99 to $9.99 on the basic plan, with its 4K plan jumping from $17.99 to $19.99.
Despite losing subscribers, the company’s revenue climbed 9% thanks to increased revenue per customer, and the firm said that it expects to add a million new subscribers in the coming quarter. What’s more, Netflix has been experimenting with a new ad-supported tier and plans to roll it out soon. It’s also experimenting with the idea of a new password-sharing feature, charging users $3 per month more to allow an additional household to access their content.
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