Netflix loses nearly 1 million subscribers. That's the good news
The media world – especially in streaming – breathed a huge sigh of relief Tuesday.That's because Netflix's second-quarter earnings report revealed the company lost 970,000 subscribers. And while that is a big number – the biggest subscriber loss in the company's 25-year history — it is also a little less than half the 2-million subscriber loss , which sent shock waves through Wall Street and the streaming industry.In fact, much of Netflix's Q2 report read like an attempt to assure investors and theFor example, the company confirmed it is working with Microsoft to create a new, lower-priced subscription tier which would feature advertisements inside their programming. They expect to launch the service in a handful of areas with big advertising markets – New York and Los Angeles, perhaps? – timed in early 2023. This comes after years of resisting placing ads in Netflix shows and a likely recognition that some consumers won't join the service unless this option is available.
