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Netflix just revealed it’s lost half a million users – so what’s gone wrong?

Netflix just revealed it’s lost half a million users – so what’s gone wrong?

Netflix just revealed it’s lost half a million users – so what’s gone wrong?
Jul 21, 2021 1 min, 8 secs

Despite the positive reception to this announcement, as well as Netflix posting $7.3 billion in revenue for the second quarter of 2021, not everything is rosy at the streaming giant's headquarters.

Revealed during the company's Q2 2021 earnings report (per The Hollywood Reporter and Variety), Netflix announced that it had posted a loss of 430,000 subscribers in the US and Canada?

Overall, Netflix's subscriber base has grown by 1.5 million between Q1 and Q2 2021 – the streamer landed nearly one million new paying users in the Asia-Pacific region alone – and currently leads its streaming rivals with a 209 million global subscriber base.

However, Netflix is noticing a slowdown in the growth of its user base.

In Q1 2021, the company had forecasted that it would add 6 million new users to its subscriber base, but the actual figure of 4 million was 33% smaller than estimated.

Netflix hopes to increase its user base by 3.5 million new subscribers in Q3 2021, which is a more modest outlook based on its Q2 2021 figures.

If some Netflix fans are growing increasingly disillusioned that their favorite shows are constantly being cancelled, why would they continue to support a streaming platform that does so

The fact remains, though, that the streaming giant has lost subscribers in one of its key territories – and it can't be a coincidence that some users have ended their subscriptions in the same quarter that Netflix cancelled shows with a cult following

Summarized by 365NEWSX ROBOTS

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