In the last three months, Netflix has reportedly lost one million subscribers.
We’re not too sure if it’s the ever-changing prices, advertisements being added, or something else. But for some reason, consumers are moving away from the streaming giant’s platform.
Earlier this year, Netflix reported that its user population decreased by 200,000 people, a first for the company in more than a decade, NBC News reports. The news outlet now reports Netflix lost one million followers in quarter two of this year. While it suffered a massive loss, the company initially projected to lose two million subscribers.
Nevertheless, Netflix still remains the largest global streaming platform. In a letter to its shareholders, the company said it was worried about how soon it would be able to boost its revenues, NBC News reports.
“Reaccelerating our revenue growth is a big challenge,” Netflix said in an SEC filing, the news outlet reports. “But we’ve been through hard times before. We’ve built this company to be flexible and adaptable, and this will be a great test for us.” Regardless, Netflix says it’s not unsure of its potential. It made $8 billion in quarterly revenues.
“We’re confident and optimistic about the future,” said the company.
