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Netflix loses 1 million subscribers in 3 months

2022-07-20 10:35:12Kosova&Bota SHKRUAR NGA REDAKSIA VOX
Netflix loses 1 million subscribers in 3 months
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Considered the "king" of streaming, Netflix lost 1 million subscribers during the April-July period. The fight to keep the throne has become more difficult.

But even Netflix itself is not convinced what has caused the drop in subscriptions. Chief executive Reed Hastings, asked about the phenomenon, said: "If there was one thing, we would say 'weird things'."

In April the company reported its first losses since 2011, which was followed by job cuts and falling Netflix shares.

On Tuesday, the company announced the biggest subscriber losses in its history. The US and Canada hold the highest number of cancellations, followed by Europe.

During the Covid-19 pandemic, Netflix strengthened its position even more and increased its profits, but after the pandemic the company is faced with the departure of subscribers.

Netflix also faces strong competition from Apple TV, HBO Max, Amazon Prime and Disney+.

 

 


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