✔️ 2022-07-19 22:22:00 – Paris/France.
This is how Netflix originally operated 1:22
(CNN) Netflix announced on Tuesday that it had lost 970 subscribers in the second quarter of 000, a figure well below its own forecasts, which had projected that the giant of the Streaming would lose two million subscribers.
Investors were clearly pleased with the results. Shares of Netflix rose 8% on Tuesday in after-hours trading.
Netflix said it would add an additional 1 million subscribers in the third quarter, numbers slightly below Wall Street expectations.
So, with Wall Street, Hollywood and the media world all obsessed with Netflix's subscription numbers, the company momentarily stopped the bleeding in a nightmarish year.
netflix bad year
In April, the company announced that it had lost subscribers in the first quarter of 2022, the first time this had happened in a quarter in over a decade.
The number of subscribers he lost at that time was 200, which seems small compared to his 000 million global subscribers. However, the loss of this number of users was very relevant, as the company had previously forecast that it would add 221 million new subscribers for this quarter, which turned out to be completely different.
Subsequently, Netflix shares burned (currently down nearly 70% year-to-date), wiping out billions of dollars in market value, and the company laid off hundreds of employees.
Netflix is pinning its hopes on a potential savior: advertising.
The company announced on Wednesday that it will partner with Microsoft on a new, cheaper, ad-supported subscription plan. Despite Netflix CEO Reed Hastings resisting the idea for years, advertising is now an important part of Netflix's plans to grow revenue in the future. The new plan would arrive before the end of 2022, but Netflix admits its fledgling advertising business is in its "early stages".
The company will also focus on cracking down on password sharing and creating engaging content to help reverse the trend.
SOURCE: Reviews News
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