Is Netflix's Subscriber Loss Really That Bad?
Netflix experienced a subscriber drop of one million subscribers in its second quarter of 2022, but these losses may not really be that bad. The company is undoubtedly hugely successful, launching numerous original series like the global hits Stranger Things and Bridgerton, as well as churning out Oscar-winning movies such as Roma and Marriage Story. In the US and Canada alone, 75 million out of a total 142 million households have subscriptions to Netflix (via The Guardian).
Netflix rang in 2022 with approximately 222 million subscribers but lost 600,000 from the US and Canada alone after its January price hikes. Then in March of the same year, Netflix pulled its service out of Russia in support of Ukraine, losing another 700,000 subscribers. In April, the company reported overall losses of 200,000 subscriptions for the first quarter. These losses resulted in a sharp drop in share prices and 150 Netflix employees getting laid off to cut costs.
Related: Netflix’s Most Watched Movies Of All Time
In its second quarter, Netflix lost an additional 970,000 subscriptions, though this was better than the two million they had originally estimated (via IndieWire). This is likely due to the phenomenal success of May’s Stranger Things season 4 Volume 1 release. This season of the hit series generated 1.3 billion hours of streaming in its first month, breaking viewership records as Netflix’s biggest season of an English-speaking show ever. As a result, despite still being in the red, Netflix’s loss in subscribers might not really be that bad after all. The company still sustains over 220 million global subscribers and even predicts it will add another one million in the next quarter.
When the pandemic first hit in 2020, Netflix was
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