Netflix lose close to 1 million subscribers in 3 months

Netflix says it lost almost one million subscribers in the three months to the end of June.

The streaming service thinks this is largely down to the financial squeeze on household budgets, caused by the cost of living crisis.

It’s still forecasting a return to subscriber growth in the current quarter though, aided by the launch of a new cheaper service from next year, that will be supported by adverts and multi-household contracts.


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