Netflix has announced the amount of subscriber data and revenue for the past 3 months. In the statements made by the company, record subscriber loss was reported for the platform. However, despite this, there was an increase in the money entering Netflix’s coffers.
The throne of Netflix, one of the most popular online series and movie platforms in the world, continues to shake. So much so that the company announced in a statement in April that it lost around 200 thousand subscribers in the previous 3-month period. This was very important because the platform had always grown and closed quarters on a positive note in the previous 10-year period.
Now, there has been a new development on the subject. The company; announced its quarterly data covering April, May and June. The announced figures reveal that alarm bells are ringing for the company. Because Netflix experienced a huge loss of subscribers this quarter as well. In the statements made, it was announced that another 970 thousand subscribers were lost.
Subscriber loss made history as a record
The number of subscriber losses announced by Netflix went down in history as the company’s biggest loss. However, company officials are extremely hopeful for the next three-month period. According to the shared report, Netflix aims to gain 1 million new subscribers in the current quarter. In the meantime, let’s also mention that the number of instant users of the platform is 220.67 million.
Netflix also mentioned its revenues in the report shared. Although the company suffered a loss of subscribers, it managed to put more money into its coffers. According to this; Netflix, which earned $7.9 billion in the last quarter, was 8.6 per cent more than the same period last year. Netflix’s profit after all expenses were deducted was recorded as 1.4 billion dollars. This figure is 6.5 per cent higher than the same period last year.
With Netflix, users may also have difficult days
The statements made by Netflix are an indication that the downsizing of the company will continue. Because the continuation of subscriber losses will begin to reduce the money entering the company’s coffers. There is also the issue of stock. All this means that the bells ringing for Netflix actually ring for users as well. As this process continues, Netflix’s content quality may decrease, and new seasons of currently broadcast productions may be cancelled.
Netflix CEO: Traditional TV culture will be dead in 5-10 years
While Netflix continued to boil, the statements made by company CEO Reed Hastings drew attention. Noting that Netflix is already in an excellent position, Hastings said that traditional TV culture will be dead in 5-10 years.