Netflix streaming usage fell 4% in Q2 – Media Play News
July 5, 2022
The use of Netflix subscribers among the top 10 programs fell around 4% in the second quarter, which ended on June 30, compared to last year’s period, according to new data from Piper Sandler analyst Thomas Champion.
In fact, Netflix had a streaming hit with the fourth season of the original “Stranger Things” series, which tracked 7.2 billion minutes spent on American TVs a month ago. The number is Netflix’s highest ever for an English-language show after the streamer’s global hit “Squid Game”, which tracked more than 1.6 billion hours in the first 28 days after its release.
The analyst claims that while viewership of English-language programming increased by 8% in Q2 compared to Q1, the initial response to “Stranger Things” was probably temporary.
“It is possible COVID hid an increasingly crowded power market,” Champion wrote in a note.
Individually, the analyst believes that Netflix can realize upwards of $ 1.4 billion in quarterly advertising revenue. The streamer plans to launch a more affordable ad-supported subscription by the end of the year. Champion said he thinks the move could trigger sub-growth, a good thing considering Netflix has estimated a total sub-loss of $ 2 million in Q2.
Netflix reports second quarter results on July 17.
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