Netflix announces second quarter 2022 financial results, losing about 970,000 paying members

Video streaming service Netflix has announced its financial results for the second quarter of 2022 (April-June). In it, Netflix has lost about 970,000 paying members.

FINAL-Q2-22-Shareholder-Letter.pdf
(PDF file) https://s22.q4cdn.com/959853165/files/doc_financials/2022/q2/FINAL-Q2-22-Shareholder-Letter.pdf

Netflix (NFLX) earnings Q2 2022
https://www.cnbc.com/2022/07/19/netflix-nflx-earnings-q2-2022.html

Netflix loses 970,000 subscribers, its largest quarterly loss ever | TechCrunch
https://techcrunch.com/2022/07/19/netflix-loses-970000-subscribers-its-largest-quarterly-loss-ever/

Netflix's second-quarter 2022 sales were $ 7.97 billion, up 8.6% year-over-year. Netflix's third quarter 2022 sales forecast is $ 7,838 million.

As of the first quarter of 2022, Netflix warned investors that it could lose about 2 million paying members, but for three months until June 30, 2022. The total number of paying members lost in was about 970,000. At the time of writing the article, Netflix has announced that it has 220.67 million paying members, and expects that the number of paying members will increase by 1 million in the third quarter of 2022.

In addition, Netflix plans to offer an 'advertising low-priced plan' in early 2023, which reveals that it will partner with Microsoft. For this low-priced ad plan, Netflix 'is likely to start with a small number of markets where advertising costs are important.' 'Like most of our new initiatives, our intention is to roll out an ad-advertised version. It's about listening to users, learning, and quickly iterating to improve content, so in a few years our advertising business will be quite different from the beginning. ' It explains.

Netflix announces partnership with Microsoft on 'low-priced plan with ads'-GIGAZINE

In addition, Netflix is conducting new tests to force users sharing accounts to pay additional fees to increase revenue.

Netflix conducts new tests to get 100 million account-sharing users to pay correctly-GIGAZINE

Netflix will continue to focus on content and emphasize that it will continue to offer high-budget original works.