{"id":317458,"date":"2022-07-20T10:38:24","date_gmt":"2022-07-20T10:38:24","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=350708"},"modified":"2022-07-20T10:38:24","modified_gmt":"2022-07-20T10:38:24","slug":"netflix-bullish-despite-subscriber-slump","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2022\/07\/20\/netflix-bullish-despite-subscriber-slump\/","title":{"rendered":"Netflix bullish despite subscriber slump"},"content":{"rendered":"

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\tNetflix outlined plans to kick start the company following a period of slowing growth, putting a focus on advertising and paid password sharing after a mixed Q2.<\/p>\n

In a letter to shareholders announcing its earnings, Netflix claimed Q2 was better than expected on membership, while forex movements were worse than predicted due to a stronger US dollar.<\/p>\n

Revenue was up 8 per cent year-on-year to $8 billion and net income increased from $1.3 billion to $1.4 billion. The forex effect shaved $339 million off its overall sales.<\/p>\n

The streaming giant ended the quarter with 220.7 million subscribers globally, up from 209.2 million in Q2 2021.<\/p>\n

Despite the growth, it is clear that Netflix is in the midst of a shake-up.<\/p>\n

Worries about its future came to a head in April [1] when it missed its estimates for subscriber growth, and its share price price is down almost 70 per cent from the start of the year.<\/p>\n

Challenge
\nA major cause for concern is the amount of people leaving the streaming service in the short-term. It lost 1 million subscribers in Q2, but this was less than the 2 million it had forecast, partly helped by the popularity of hit show Stranger Things.<\/p>\n

Netflix acknowledged in the shareholder letter it had a \u201cbig challenge\u201d on its hands to rekindle growth, which it will attempt to do through offering a lower priced advertising-tier subscription [2] option.<\/p>\n

The company also intends to seek revenue from password sharing, which could impact more than 100 million households not currently directly paying for Netflix, it stated.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/apps\/news-apps\/netflix-braced-for-tough-2022-after-subscriber-wobble
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/apps-home-banner\/netflix-partners-microsoft-for-ad-push<\/p>\n\n

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Netflix outlined plans to kick start the company following a period of slowing growth, putting …<\/p>\n

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