Netflix lost subscribers for the first time in a decade last quarter

Illustration by Alex Castro / The Verge Netflix’s struggle to boost its subscriber count took an even worse turn in the first quarter of 2022. The company reported a loss of 200,000 subscribers globally compared to Q4, and it’s forecasting even greater losses to come. Netflix estimates it could lose up to 2 million subscribers in the second quarter. “It’s harder to grow membership in many markets,” Netflix acknowledged in its letter to shareholders. “Covid clouded the picture by significantly increasing our growth in 2020, leading us to believe that most of our slowing growth in 2021 was due to the Covid pull forward.” The slowdown in signups is reflective of a more competitive streaming landscape: Netflix is contending with more rival services than ever before, each vying... Continue reading…