And if netflix did he finally get his head out of the water a little bit? In fact, the streaming giant, which has experienced great difficulties in the past months, even reported the loss of thousands of subscribers in the first months of the year, which is the first in 10 years. More recently, analysts have feared the worst for Netflix. losing even more subscribers in the coming months. But things may have changed a bit.
With the help of the tremendous success of Stranger Things 4, which broke several viewership records, Netflix is finally going better than expected. Certainly the company did indeed lose thousands of subscribers in the second quarter. However, the forecasts for the next quarter are quite optimistic. And financially, the forecasts bode well.
Netflix lost 1 million subscribers in Q2 but limits damage
To go into details, Netflix lost nearly 970,000 subscribers in Q2. The figure is certainly huge and close to one million, but ultimately far less than the expected loss of 2 million. The company therefore limited the breakout and tracked its results, Netflix’s stock rating up 7%. Investors are thus reassured, and the streaming giant’s optimistic financial forecasts help, of course.
In the effect, Netflix even plans to gain a million subscribers for this current quarter. It should be said that financially things are getting better. The company’s revenue grew more than 8% year-on-year, with net income rising from $1.35 billion last year to $1.44 billion today. With the advent of other measures such as promoting a cheaper ad-supported subscriptionNetflix is seeing bigger, hoping to attract more new subscribers, and still hoping to go uphill.
Also read: Netflix unveils most-watched series list, Stranger Things is not the first
