Netflix Loses 970K Subscribers, Biggest Loss Ever

JAKARTA - During the last three months from April to June, Netflix announced that its losses were lower than projected.

In its second-quarter earnings report, the streaming service said it lost 970,000 of its subscribers globally. This figure is said to be lower than the previous projection of 2 million subscribers.

Currently, the company reports Netflix's overall subscriber count of 220.67 million, and expects to add up to 1 million subscribers in the July-September quarter.

The report also reveals that the streaming giant posted revenue in Q2 of 7.9 billion US dollars (Rp 117 trillion), which is a 9% increase from the previous year which was only 7.8 billion US dollars (Rp 116 trillion).

In April, Netflix announced its plans to launch a cheaper subscription plan with ad support in early 2023. The company claims that its strategy to lower prices is working in India.

Additionally, Netflix also announced that it will begin testing a new "add a home" feature to bill users who share their accounts with others in Argentina, the Dominican Republic, El Salvador, Guatemala, and Honduras starting next month.

To use a Netflix account outside of the main home, the company will charge an additional $2.99 per month. Members on the Basic plan can add one extra home, Standard up to two extras, and Premium up to three extras.

On the other hand, Netflix released the film The Gray Man, which is based on the novel by Mark Greaney released in 2009. This action genre film tells the story of a CIA agent who is in pursuit of directors Joe and Anthony Russo.