Netflix isn't blaming the pandemic recovery for its lost subscribers
Netflix may have benefitted from the COVID-19 pandemic, but it's not blaming its latest troubles on people leaving their homes. The company hasthat it lost about 200,000 subscribers in the first quarter of 2022, a sharp contrast from the millions of additions per quarter over the past year. However, the streaming giant said that the pandemic only"obscured the picture" — there were multiple problems hiding under the surface.
The company pointed to stiffer competition from online services like Disney+ and Prime Video. While Netflix has still been gaining share at a modest rate, it wants to grow"faster." The firm also blamed limited room to expand in many countries due to both technology factors outside of its control and the abundance of
. There are more than 222 million paying households, Netflix said, but another 100 million-plus sharing those accounts.also helped swing Netflix from growth to a loss. It would have added 500,000 customers, but ultimately lost 700,000 after dropping its Russian base in response to the invasion of Ukraine. Growth was still"soft" across all regions, however.
Netflix outlined multiple efforts to turn things around. It hoped to improve the quality of its shows, profit from sharing and produce more content to suit audiences outside the US, where growth was stronger. These results might not pay off in the short term. Netflix still expects either mild growth or a loss in the ongoing second quarter. With that said, Netflix is clearly under no illusion that
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Netflix shares drop 23% after it loses 200K subscribersInvestors had already been bailing out of the company’s once high-flying stock amid a dramatic slowdown in subscriber growth.
Weiterlesen »
Netflix Estimates 100 Million Households Are Sharing Passwords and Suggests a Global Crackdown Is ComingNetflix has been willing to turn a blind eye toward password sharing when it was growing subscribers, but losing customers can change behavior quickly.
Weiterlesen »
Hotel Chains From Hilton To Shangri-La Are Expanding Across Asia On Post-Pandemic Recovery HopesHotel chains are accelerating expansion plans across the Asia-Pacific region, betting on a post-pandemic recovery as countries gradually reopen to international travelers.
Weiterlesen »
'Love Death and Robots' Season 3 comes to Netflix on May 20th | EngadgetThe third season of Netflix's animation anthology Love, Death and Robots will bow on May 20th..
Weiterlesen »
Netflix is making an 'Exploding Kittens' mobile game and TV series | EngadgetNetflix is making both a mobile game and a TV series based on the 'Exploding Kittens' card game..
Weiterlesen »