Netflix rocked by subscriber loss, may offer cheaper ad-supported plans


FILE PHOTO: The Netflix logo is pictured on a television in this illustration photograph taken in Encinitas, California, U.S., January 18, 2017. REUTERS/Mike Blake

(Reuters) - Netflix Inc said inflation, the war in Ukraine and fierce competition contributed to a loss of subscribers for the first time in more than a decade and predicted deeper losses ahead, marking an abrupt shift in fortune for a streaming company that thrived during the pandemic.

The company said it lost 200,000 subscribers in its first quarter, falling well short of its forecast of adding 2.5 million subscribers. Suspending service in Russia after the Ukraine invasion took a toll, resulting in the loss of 700,000 members.

Unlock 30% Savings on Ad-Free Access Now!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

X says Indian government ordered it to block Reuters News accounts in India
Rubio impersonator using AI contacted foreign ministers, cable says
Trump Media seeks SEC approval for blue-chip crypto ETF
IBM rolls out new chips and servers, aims for simplified AI
UK companies should have to disclose major cyberattacks, M&S says
Misinformation on cloud seeding swirls after deadly Texas floods
TNB cites technical issue for inaccurate July bill reading on app
Bridging the digital divide: A tiny village smarter than Hong Kong
China’s Li, Brazil’s Lula pledge joint effort to bring AI to farming
TikTok reportedly prepping new app in the US as potential sale looms

Others Also Read