Netflix lost almost a million subscribers over the past three months, the company has revealed, although this was not as many as it had feared – having forecasted a drop of two million subscribers previously.
In Netflix’s latest financial results, the streaming giant revealed that despite airing new seasons of front-runner Stranger Things and other popular series such as The Umbrella Academy.
In the UK, the cost of living crisis is one of the biggest issues currently faced by households, and streaming services are feeling the impact of it. The BBC reported that many people are choosing to cancel their subscriptions in order to compensate for increasing bills and prices. Netflix is likely one of the companies affected by this, with 300,000 of the total 970,000 subscribers lost residing in the EMEA region.
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