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https://techcrunch.com/2022/07/19/netflix-loses-970000-subscribers-its-largest-quarterly-loss-ever/

During the three-month period ending June 30, Netflix reported a loss of only 970,000 subscribers. Last quarter, the company had a weak outlook for the second quarter and predicted a net loss of two million subscribers. While todays results beat the projection, it is still the largest quarterly loss in the companys history.

The company reported a total of 220.67 million subscribers and said it expects to add one million in the third quarter.

Netflix has spent a couple of months adjusting its business strategy to prepare for the challenges it expects to face. The company laid off around 450 employees, announced a cheaper ad-supported subscription plan with a new partnership with Microsoft and put its foot down on password sharing.

Today, Netflix announced in its letter to shareholders that it will launch the ad-supported tier in the early part of 2023. Also, next year will see the official rollout of the paid sharing offering.

Netflix announced yesterday it is testing an add a home feature that will charge an extra $3 to share accounts with other households.

If youve been following our streaming coverage, then you know that Netflix is having a horrible year. In April, the company reported that it had lost 200 million subscribers in the first quarter of 2022 the first big loss in over a decade.

This year, Netflixs stock was on a decline of approximately 70%. The market valuation has decreased from $300 billion to under $90 billion in less than a year. After the company reported it lost fewer subscribers than anticipated, Netflix shares increased 8%....