Netflix loses another million subscribers

Streaming giant Netflix is in trouble for the last few years. It has been losing its subscriber base at a rapid pace. Even though Netflix is trying hard to hold its subscribers, all efforts are going in vain.

According to the reports, Netflix lost around 2 million subscribers in the first quarter of 2022. It was expected that the platform will lose another 2 million subscribers in the second quarter of this year but surprisingly, it didn't happen.

Netflix stated that it lost around 9,70,000 subscribers from April 2022 to June 2022. On the whole, it lost around 3 million subscribers in the first half of 2022.

Netflix has a subscriber base of 222 million across the globe but the count has been decreasing rapidly for the last few years. It lost 37 million subscribers in 2020 and 18 million subscribers in 2021. The major reason for the users to reactive Netflix is the high subscription rates.

Netflix is coming up with various strategies to hold its subscriber base and the results have been mixed. We have to see how the platform manages to hold its users in the second half of 2022.