Netflix beats expectations while still losing almost a million subscribers


It was another rough quarter for Netflix — but not as rough as expected.
Netflix said Tuesday it lost 970,000 subscribers in the second quarter of 2022. That's the bad news. But the good news is this was much better than Netflix projected, as the streamer previously told shareholders it would likely lose two million subscribers this quarter.
The company also said Tuesday it doesn't expect this trend of losses to continue, forecasting a gain of one million subscribers in the third quarter of the year.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
When Netflix revealed in April it lost 200,000 subscribers, it was its first quarterly loss in over a decade, prompting existential questions about the future of Netflix and whether the company's business model is sustainable. Though the streamer lost subscribers again, the fact that it beat expectations should allay some of these concerns. The release of Stranger Things' fourth season was likely a major factor in this, as the hit series became the first English-language Netflix show to rack up one billion views.
Netflix announced plans to crack down on password sharing earlier this year in an effort to increase revenue, and this plan is still in the works. The streamer is now testing a crackdown in certain countries that involves prompting users to pay more to watch Netflix in "additional homes," and on Tuesday, Netflix said it aims to roll out an "easy-to-use paid sharing offering" sometime next year. The company will also launch a cheaper, ad-supported subscription tier in early 2023.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
The easy elegance of Cap Ferret
The Week Recommends 'Elemental and otherworldly' destination is loved for its natural beauty
-
Volodymyr Zelenskyy: flirting with authoritarianism?
Talking Point Ukraine's president is facing first major domestic unrest since the Russian invasion, over plans to water down the country's anti-corruption agencies
-
Crossword: August 3, 2025
The Week's daily crossword puzzle
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement