Netflix lost almost a million subscribers (970,000 accounts) during the second quarter of the year, a period in which it obtained net profits of 1,441 million dollarsrevealed the company in its latest results report published this Tuesday.
Despite this loss of customers, the company rises more than 3% on Wall Streetbecause the data improves the latest forecasts of the company, which in its March accounts anticipated the loss of up to two million users after losing, for the first time in more than a decade, 200,000 customers worldwide at the beginning of this year .
During these three months, in which its shares have plummeted and it has laid off more than 300 employees, Netflix has managed to contain a bleeding increased by the appearance of competitors such as Disney and Apple in the streaming business.
Such was the debacle that its results were anxiously awaited in the entertainment industry, and now they seem to have inflated their investors with optimism, since, immediately after publishing the report, its shares rose more than 10% in subsequent electronic trading at the closing of the New York parks.
In addition, the company based in Los Gatos (California, USA) raised that optimism by predicting that for the next quarter it will recover that million lost users.
“Our challenge and opportunity is to accelerate our revenues and add new customers by continuing to improve our product, our content and marketing as we have done for the last 25 years,” he said in a letter to his investors. However, the data reflects a stagnation in the business model.
While his predictions say that he will recover the million lost users thanks to the growth of the next semesters, these are far from the 4 million that he added in the same period last year, admits that same letter. If the forecast holds, Netflix would enter the end of the year with exactly the same number of active accounts as at the beginning of 2022.
On the other hand, its total turnover increased by 8.6%, a figure affected by the new interest rates and changes in the value of the dollar since, ignoring this situation, the company places the increase at 13%.
It grows in Asia and stagnates in Europe and Latin America
By territories, the Asia and Pacific region is the one that is giving the most joy to the television giant, which is already equal in business volume to Latin America by adding one million more clients.
However, its two large markets, Europe and North America, concentrate the losses of subscribers, especially pronounced in the US and Canada.
Despite the stagnation, Netflix took pride in its leadership position in the sector and boasted of its ability to influence global popular culture with formats such as «Stranger Things», that led social media mentions and brought songs by Metallica and Kate Bush back onto the charts just for appearing on the series.
With 220 million customers, Netflix It is the main streaming platform in the world, although it is difficult to make a comparison.
Amazon, for example, only acknowledges that 200 million customers play video on its e-commerce platform. And Disney adds 205 million subscribers between its different platforms: Disney +, Hulu, Star and ESPN +. Apple, for its part, brings together more than 40 million Apple TV + users.
#Netflix #rises #stock #market #losing #million #subscribers
