Streaming giant Netflix’s future sounds to be hanging by a threat as it is fixed to report its second-quarter earnings on July 19, 2022. The declaration is shaping up to be one of the most significant moments in the streaming platform’s history. The question may arise now, What Could Be Netflix’s Future?
Netflix has been witnessing a challenging year, with the streaming service losing 200,000 subscribers in April 2022, its first subscriber loss in more than a decade. This led Netflix’s shares to go down by 25%, indicating that the streaming pioneers may be past their prime. The subscription loss forced Netflix to lay off 150 employees in May and another 300 staff in June. The move mainly affected its U.S. and Canadian workforce.
Following the recent update, Netflix partnered with Microsoft for its planned advertisement-supported subscription offering, as the streaming giant looks to catch up with the low subscriber growth by rolling out a cheaper plan.
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