Netflix Lost 1.3 Million U.S. and Canadian Subscribers in Q2 2022

Netflix in the second quarter of 2022 lost 1.3 million subscribers in the United States and Canada, according to new data shared today during the company's earnings call. Netflix had 73.28 million paid memberships during the quarter, down from 74.58 million in the first quarter of 2022.

netflix3
With subscriber additions in some other areas, Netflix in total dropped 970,000 subscribers worldwide. That's more than the 200,000 customers that it lost in Q1 2022, but it is ultimately a win because Netflix was expecting to lose as many as 2 million subscribers.

Netflix has been raising its prices, which has resulted in some customers turning away from the service. In January, Netflix increased the prices for all of its plans. The basic standard definition plan went from $8.99 to $9.99, the Standard HD plan went from $13.99 to $15.49, and the 4K plan went from $17.99 to $19.99.

Despite the U.S. subscriber loss, revenue was up nine percent year over year, which Netflix says is the direct result of an increase in average revenue per membership. In the third quarter of 2022, Netflix is expecting to add one million subscribers.

Netflix blames its subscriber loss on connected TV adoption, account sharing, and competition, and to continue to improve revenue growth, the company says that it is focusing on evolving monetization.

A lower-priced ad-supported tier is in the works and is set to launch in early 2023, and the lower-cost plan could draw in some of the subscribers that have abandoned Netflix because of the rising costs. Netflix says that it is also working to monetize the 100 million+ households that are "currently enjoying, but not directly paying for, Netflix."

The company is aiming to find an "easy-to-use paid sharing offering" that can be rolled out in 2023. Right now, Netflix is experimenting with a $3 fee to add an additional household to a Netflix plan in Latin America.

Tag: Netflix

Top Rated Comments

Think|Different Avatar
16 months ago
It's because they are one of the only streaming holdouts that want to charge for 4K...in 2022.
Score: 85 Votes (Like | Disagree)
TheYayAreaLiving ?️ Avatar
16 months ago
If they keep on charging extra for higher screen resolution. They will continue to lose more subscribers.
Score: 59 Votes (Like | Disagree)
contacos Avatar
16 months ago
HAHAHA

I wish them nothing but the worst. Blaming users for their fading business model is coming off as very condescending
Score: 42 Votes (Like | Disagree)
TheYayAreaLiving ?️ Avatar
16 months ago

Netflix blames its subscriber loss on connected TV adoption, account sharing, and competition, and to continue to improve revenue growth, the company says that it is focusing on evolving monetization.
Netflix really needs to stop blaming the consumers and they should focus on the actual "High Quality/Level Content" they should be making.
Score: 31 Votes (Like | Disagree)
cb3 Avatar
16 months ago
Why I'm thinking of leaving Netflix: Finding their content less and less interesting. Price is going up.
Score: 29 Votes (Like | Disagree)
Macative Avatar
16 months ago
They raised prices, and lost some people, but ultimately made more money because not enough people canceled.

That's exceptionally disappointing as a former customer.
Score: 27 Votes (Like | Disagree)

Popular Stories

iPhone 16 Mock Header With Dynamic Island

Skipping the iPhone 15 Pro? Here's What's Rumored for iPhone 16 Pro

Friday September 22, 2023 9:29 am PDT by
Are you skipping the iPhone 15 Pro and waiting another year to upgrade? If so, we already have some iPhone 16 Pro rumors for you. Below, we recap new features rumored for the iPhone 16 Pro models so far:Larger displays: The iPhone 16 Pro and iPhone 16 Pro Max will be equipped with larger 6.3-inch and 6.9-inch displays, respectively, according to Ross Young, CEO of Display Supply Chain...
Update Your iPhone 15 to iOS 17

Warning: Update Your iPhone 15 to iOS 17.0.2 Before Transferring Data From Another iPhone

Friday September 22, 2023 6:36 am PDT by
If you are unboxing an iPhone 15, iPhone 15 Plus, iPhone 15 Pro, or iPhone 15 Pro Max today, make sure to update the device to iOS 17.0.2 before transferring data to the device from another iPhone, or else you might encounter issues. iOS 17.0.2 is only available for the iPhone 15 lineup. Apple says the update fixes an issue that may prevent transferring data directly from another iPhone...
iOS 17

Apple Releases iOS 17.0.1 and iPadOS 17.0.1 With Bug Fixes, Plus iOS 17.0.2 for iPhone 15 Models

Thursday September 21, 2023 10:28 am PDT by
Apple today released iOS 17.0.1 and iPadOS 17.0.1 updates for the iPhone and the iPad, adding bug fixes to the new software. The iOS 17.0.1 and iPadOS 17.0.1 updates come just a few days after Apple launched iOS 17 and iPadOS 17. The software, which is build 21A340, can be downloaded on eligible iPhones and iPads over-the-air by going to Settings > General > Software Update. There is a...
Apple Watch Ultra 2 double tap gesture 230912

watchOS 10.1 to Enable Apple Watch's New 'Double Tap' Gesture

Thursday September 21, 2023 12:52 pm PDT by
The new Double Tap gesture for the Apple Watch Series 9 and the Apple Watch Ultra 2 will be enabled starting with watchOS 10.1, according to Marques Brownlee, host of the popular tech-focused YouTube channel MKBHD. The first beta of watchOS 10.1 will likely be available by next week, and Apple announced that the software update will be released next month. Brownlee shared his impressions...