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Netflix loses 200,000 customers, its first decline in a decade

20.04.2022 06:15 AM
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Netflix loses 200,000 customers, its first decline in a decade
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The global streaming platform Netflix lost a large number of its subscribers during the first 3 months of 2022.
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Netflix loses 200,000 customers, its first decline in a decade
The global streaming platform Netflix lost a large number of its subscribers during the first 3 months of 2022.

And the results of the American broadcasting Services Company revealed that the net profit amounted to 1.5 billion dollars in the three-month period ending last March, compared to 1.7 billion dollars in the same period in 2021.

Netflix recorded revenues of $7.8 billion in the first quarter of 2022, compared to $7.1 billion in the comparable period a year earlier, but it is lower than expectations of $7.9 billion.

Netflix lost about 200,000 subscribers during the first quarter of 2022, contrary to the company's previous expectations of adding 2.5 million subscribers.

Netflix, which currently has 221.6 million subscribers, said that the suspension of its services in Russia and the termination of paid subscriptions led to the loss of 700,000 subscribers, and excluding these disruptions, the number of subscribers was scheduled to rise by about 500,000 subscribers during the past quarter.

The broadcasting services company expected an additional loss of about two million subscribers during the second quarter of this year.
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