Netflix-NoypiGeeks-5418

Netflix lost nearly 1 million subscribers last quarter — an unexpected result for the streaming giant, as it predicted to lose about 2 million. Despite losing some market share, the good news is Netflix forecasted 1 million net new subscribers in the next quarter.

On Tuesday, Netflix reported approximately $8 billion dollars in quarterly revenues, an improvement over the $7.9 billion it reported in the last quarter. However, the company warned that its revenue growth will slow down in the coming months.

Netflix blamed password sharing, sluggish economic growth, among many other things. It said that it will crack down on account sharing, introduce a cheaper tier that supports advertising, and boost its subscriber base, which currently totals nearly 220 million worldwide.

To win back subscribers, Netflix is offering them more affordable options and an ad-supported subscription service. Netflix says it will likely start off offering the ad-supported plan in a few markets before expanding to other regions.



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