In Q2 2022, Netflix’s U.S. and Canadian Subscribers Fell by 1.3 Million

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According to fresh information provided today during the company’s earnings conference, Netflix lost 1.3 million customers in the United States and Canada during the second quarter of 2022. During the quarter, Netflix had 73.28 million paying subscribers, down from 74.58 million in the first quarter of 2022.

The overall number of Netflix users globally decreased by 970,000 despite several other regions seeing subscription growth. Although it lost more members than 200,000 in Q1 2022, this is a victory for Netflix since it had anticipated losing up to 2 million people.

Since Netflix has continuously boosting its fees, some consumers have stopped using the service. All of Netflix’s plans saw price increases in January. Standard HD plans increased from $13.99 to $15.49, the 4K plans increased from $17.99 to $19.99, and the entry-level standard definition plan decreased from $8.99 to $9.99.

Despite the decline in U.S. subscribers, revenue increased by 9% year over year, which Netflix claims is due directly to a rise in the average revenue per subscriber. Netflix anticipates adding one million new customers in the third quarter of 2022.

In order to maintain its revenue growth, Netflix claims it is concentrating on developing monetization. The business attributes its subscriber loss on the adoption of connected TV, account sharing, and competition.

Early in 2023, a more affordable, ad-supported tier is planned, and it may entice some Netflix users who have given up because of the service’s escalating expenses. The 100 million+ homes that “now enjoy, but do not directly pay for, Netflix” are being worked on, according to Netflix.

In order to launch in 2023, the organization is searching for a “easy-to-use paid sharing product.” In Latin America, Netflix is now experimenting with a $3 cost to add a second household to a Netflix membership.

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