The Clap
Netflix has warned investors that subscriber losses could reach 2 million during Q2.
The Deets
During Q1 of 2022, Netflix reported a loss of subscribers of 200 thousand, the first time they reported subscriber losses in 10 years. This had sent the stock spiraling down by 25%.
Now as they prepare to announce earnings for Q2, Netflix has warned investors to expect significant subscriber loss (around 2 million). Netflix blames intensifying competition, password sharing and inflation for the slip in subscribers.
How do Netflix plan on turning this around?
Netflix is looking to turn this around through providing fresh content for entertainment.
In addition to that, they plan on releasing a cheaper ad based plan for the customers who unsubscribed due to increased prices.
People aren’t Netflix and Chilling anymore 😟
