Netflix Loses Almost a Million Subscribers
Going by its declining subscriber base, these are certainly not the best of times for streaming giant, Netflix as it has lost almost one million subscribers between April and July.
However, despite the acceleration in the number of people quitting the service, the numbers aren’t as high as the straming platform had feared.
It would be recalled tht Netflix had projected loss of subscribers in the range of two million.
When asked what may have stopped subscriptions sliding further than it has projected, the brand’s Chief Executive, Reed Hastings, said: “If there was a single thing, we might say ‘Stranger Things.'”
The new season of the hit drama has been a phenomenal success, and may have helped stem the exodus of Netflix customers.
The company reported its first subscriber loss since 2011 in April, news that was followed by hundreds of job cuts and a sharp drop in its share price.
