Netflix was expecting a tough second quarter with a steep decline in paid subscribers but today’s financial report revealed a picture much less bleak than feared. Between April and June, the platform lost 970,000 memberships instead of the expected 2 million. This lead to a 7% increase in share prices in after-hours trading. The cheaper ad-supported tier is expected in early 2023, and the same deadline applies to clamping down on the 100 million households that do not pay for the service, but use shared passwords. Losing 1 million paying customers might be a big blow for the...
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