In the second quarter, Netflix lost 970,000 customers.

Netflix reported a 970,000 subscriber drop in the second quarter of the year.

The streamer confirmed the data on Tuesday, bringing its loss in the first two quarters of the year to over 1 million members.

According to Netflix, Q2 fared better than projected despite a loss of more than 2 million. The business now anticipates at least one million subscribers by the third quarter.

In Q1, an extraordinary loss of 200,000 members was revealed. The firm reported the loss in April, along with plans to boost income, such as launching an ad service and lately cutting off 300 employees.

With 220.67 million subscribers, Netflix continues to dominate the worldwide streaming service industry. According to The Hollywood Reporter, the firm has grown by ‘approximately’ 8% this year. In the second quarter of 2022, its revenue was $7.97 billion.