Tuesday, May 28, 2024

Netflix lost 1.3 million subscribers in the USA and Canada in 3 months!

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Tony Vaughn
Tony Vaughn
"Total creator. Evil zombie fan. Food evangelist. Alcohol practitioner. Web aficionado. Passionate beer advocate."

Netflix announced in April that for the first time in a decade, the platform had lost a number of subscribers. The numbers are very worrying. The company’s second-quarter earnings report shows that the number of global subscribers it has ” It decreased by 1 million, including a decrease of 1.28 million in the US and Canada between the end of March and the end of June Edge Reports.

As a reminder, Netflix is ​​currently the highest ranked subscription streaming service. Moreover, the company indicated that the number of its paid subscribers around the world is about 220.67 million, of which 73.28 million are in the United States and Canada. The losses of subscribers around the world are less than they expected, but in terms of the decline in the two mentioned countries, the reality is beyond expectations.

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Partnership with Microsoft

They announced it in mid-July. Netflix is ​​partnering with Microsoft, so Microsoft will become a global partner for Netflix sales in technology and advertising. They plan to release it in early 2024 and it will now be ad-free.

First, it will be rolled out to the markets where advertisers spend the most money and then they are reporting. This approach was implemented in the hope of getting more membership after lower prices but also of getting more profit. It should not be forgotten that the number of subscribers decreased a week or so after this partnership announcement.

Password sharing, the company’s epidemic

One of the reasons why Netflix fails to get more subscribers is password sharing. Netflix is ​​well aware of this and has also stated that it is difficult for them to grow members in many markets. That’s why he’s getting more and more strict about it. According to the company, more than 100 million households use the streaming service by sharing passwords.

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But it’s not all bad news. Watch time increased. Research firm Nielsen revealed that Netflix viewing in the US saw a sharp increase: 6.6% in June 2021 compared to 7.7% in June this year. According to the earnings report, Netflix plans to acquire Animal Logic, the animation studio behind the popular Lego Movie.


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