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Netflix Loses 970K Subscribers

Netflix

Netflix Loses 970K Subscribers

  • Ethan Hawke has said that he does not feel “attached” to Stranger Things just because his daughter plays Robin Buckley in the show. 
  • He feels like Stranger Things was meant to be for his daughter, and that it’s just the beginning for her. 
  • The 51-year-old says that Maya is fun to be around, passionate and serious, funny and playful.

Netflix lost 970,000 subscribers during the second quarter, performing better than its expectations of a 2 million loss, the company disclosed on Tuesday.

During the first quarter, when Netflix lost 200,000 subscribers and spurred Wall Street and Hollywood to reevaluate the economics of the streaming business, the company warned that it expected to lose an additional 2 million subscribers during Q2. Though the quarter still ended with a net loss in subscribers, the streaming giant is projecting it will add 1 million subscribers in Q3.

Netflix now has a total of 220.67 million subscribers, a decrease from the 221.64 million reported at the end of Q1. Revenue hit $7.97 billion for the second quarter, representing a roughly 8 percent year-over-year growth in part due to a “stronger U.S. dollar,” according to Netflix’s letter to shareholders, while net income landed at $1.44 billion.

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By region, Netflix saw the most losses in the U.S. and Canada, despite major English-language series like Stranger Things‘ fourth season premiering during the quarter. UCAN saw a 1.3 million loss in subscribers, dropping to a total of 73.3 million paid subscribers in the region. Europe, the Middle East and Africa region also saw a decline in subscriber growth during Q2, losing 770,000 subscribers, while Latin America saw a modest addition of 1,000 paying subscribers. The Asia-Pacific region emerged as the strongest contributor to Netflix’s subscriber growth, bringing in 1.08 million subscribers during the quarter.