Netflix Subscriber Base Continues To Decline; Loss For 2 Consecutive Quarters For 1st Time In History

Netflix subscriber base is continuing to decline. On July 19, the firm announced its second-quarter earnings statement (Q2 2022), highlighting subscriber losses for two consecutive quarters for first time in history. It lost about 970,000 paid subscribers in June quarter, which was still less than the two million predicted. The streaming behemoth lost roughly 200,000 paid subscribers in March quarter (Q1 2022). Netflix presently has 220.67 million paid subscribers globally.