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More than 200,000 subscribers lost, Netflix considers ad-supported plans and cracking down on password sharing

For the first time in the past decade, Netflix announced that it lost subscribers in a quarter.

The announcement was made by the streaming giant during its recent earnings call where it also shocked investors by forecasting that its number of subscribers would fall by another 2 million in the current quarter, to about 219.6 million, after declining about 200,000 in the first quarter of 2022.

Netflix shares plummeted over 25%, shaving $30 billion off the company’s market valuation after this announcement was made.

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Mallami Adekunle

Kunle Mallami is a digital entrepreneur with expertise in website design, digital marketing, brand strategy and digital content writing. When he's not doing any of these, he will probably be on YouTube learning.
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