Netflix subscriber count is down by 1.3 million in the United States and Canada in the last three months or the second quarter of 2022.
The giant streaming service disclosed its latest subscription numbers in its recent earnings call.
But despite the dwindling number of Netflix subscriptions, it turns out that the actual figures are significantly smaller than the initial forecast of the streamer.
Netflix Subscription in the US, Canada
As per a news story by The Verge, the second quarter earnings report of Netflix shares a bleak reality for the streaming service. It has lost a whopping 1.28 million users in two massive markets, the US and Canada, from April to June.
It comes after the streaming service reported in the first quarter of 2022 that it lost its subscribers for the first time after its growth streak of more than a decade.
And as such, the streaming giant states that it now only has 73.28 million paid subscribers in the US and Canada.
Netflix Subscriber Count Globally
On top of that, Netflix is also shrinking its subscriber count on a global scale, wherein it lost roughly 1 million paying users in the last quarter.
So in total, the streaming firm shares that its subscribers globally are down to 220.67 million after it has shredded about a million in the last three months.
Netflix Subscription Forecast
However, despite the shrinking numbers of subscribers, the latest figures from the second quarter of the year are still better than what was initially predicted.
According to the latest report by Forbes, the shares of the streaming service surged on July 19, Tuesday, even if the tech giant confirms that it has lost more than a million customers.
The Verge reports that the projected subscribers lost in the second quarter were around 2 million globally. So it appears that the real-world numbers are significantly lower than what investors were expecting.
Meanwhile, Forbes notes that other analysts estimated that the giant subscription service is going to lose around 4 million paying users. However, the latest earnings report shows otherwise.
It is worth noting that Netflix debuted the highly anticipated season four of the phenomenal Stranger Things, which ended up being the most watched English show on the service.
Ads on Netflix?
The top brass of Netflix is exerting maximum effort to turn around the downtrend of its users by introducing a cheaper tier and cracking down on its prevalent problem of password sharing.
The streamer says in its earnings call that an ad-supported plan might help with its growth moving forward.
