Despite the success of Stranger Things Season 4, Netflix has just reported a loss of 970,000 subscribers in the last three months. While the streaming giant was estimating closer to a loss of roughly two million subscribers for its second quarter, this near-one million loss is the largest quarterly loss in subs that Netflix has experienced so far.
Netflix expects the third quarter to pick up with one million new subscribers (3.4 million down from last year) and is also planning to introduce a lower-priced option with advertisements and an “add home” service for 2023. Those interested can view the entire detailed report over at Netflix’s Q2 Letter to Shareholders.
In other tech news, Mark Zuckerberg announces Instagram’s new searchable map.