Industry News

Netflix’s domestic crisis

22 July, 2022

Netflix lost 970,000 subscribers and Wall Street cheered. That’s the crux of every headline that has followed the company’s not-as-spooky-as-feared earnings report from Tuesday, one encapsulated by co-C.E.O. Reed Hastings’ pitiable “less bad” verdict. But that superficial narrative belies a more fascinating story occurring on a more granular level. Netflix lost 1.3 million subscribers during the quarter in the U.S. and Canada (UCAN). This is the second quarter in a row of substantial subscriber loss in Netflix’s most penetrated, highest revenue per user and substantial market. 

For years, Netflix bulls have argued that the company’s long-term growth will come from overseas, and they tend to dismiss domestic churn as a sort of to-be-anticipated outcome while they focus on other data points. For instance, Netflix did gain more than 1 million subscribers in its Asia Pacific region this quarter, which essentially abnegated its losses in the States and Canada. 

Visit Puck to read this article.

Other insights you may enjoy


Tags:

Get a glimpse into the future of global audience demand measurement for TV shows, movies and talent and learn from consolidated insights and strategic thinking focused on the entertainment industry.

Exclusive global, regional and market-specific content and talent analyses
Rank 15,000+ talent in 50+ markets across all platforms
Rank 20k+ TV shows and 12k+ movies in 50+ markets across all platforms

The Global Television Demand Report

  • Truly understand the global SVOD originals landscape
  • Comprehensive platform market share benchmarks
  • Released each quarter covering 10 global markets
  • Get exclusive access to our comprehensive reports
  • Available for FREE with a DEMAND360LITE subscription