Netflix lost subscribers for the first time in more than a decade in the first quarter of 2022, according to subscriber numbers the company released during its earnings call. Netflix has lost over 200,000 subscribers and the decline will continue.
Netflix expected to increase the number of subscribers by 2.5 million in the first quarter of 2022, but fell short of this goal. The suspension of business in Russia cost her 700,000 subscribers.
In the US and Canada, Netflix lost 600,000 subscribers due to recent pricing changes. The company said the decline was expected and in line with forecasts.
In a letter to shareholders [PDF] the company said revenue growth has “decreased significantly” and cited “a large number of households sharing accounts” and “competition” as reasons for the fall. Netflix estimates that 222 million paying users use the company’s services, along with another 100 million users from whom the service does not profit.
How many Netflix users share their passwords?
Yes, passwords are shared in any country
Going forward, Netflix plans to implement “better monetization of account sharing across multiple users,” suggesting that Netflix will soon take action to prevent account sharing. In March, Netflix began testing additional fees for those who transfer their accounts to other people who are not members of their families.
Netflix – Financials – Quarterly Earnings
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