Netflix has suffered its first subscriber loss in over a decade
Netflix’s battle to increase its subscriber base reached a stalemate in the first quarter of 2022. The company recorded a global subscriber loss of 200,000 members in Q4 and is predicting significantly larger losses in the coming quarters. Netflix projects a second-quarter loss of up to 2 million members.
Netflix stated in a letter to shareholders that “revenue growth has slowed significantly.” “Covid obfuscated the picture by significantly raising our growth in 2020, causing us to conclude that the majority of our 2021 growth slowdown was due to the Covid pull forward.” Netflix completed the quarter with over 222 million users, maintaining its position as the world’s largest streaming service — but it is facing a plethora of obstacles.