Netflix Subscriber Decline? What Subscriber Decline?

'Stranger Things,' 'Dahmer' help streaming service, big-time
By Evann Gastaldo,  Newser Staff
Posted Oct 19, 2022 2:00 AM CDT
Updated Oct 19, 2022 4:24 AM CDT
Netflix Subscriber Decline? What Subscriber Decline?
This is the NETFLIX screen on a television in Pittsburgh, on Monday, Oct. 17, 2022.   (AP Photo/Gene J. Puskar)

So much for Netflix's problem with subscriber decline. During the last quarter, 2.4 million new subscribers joined the streaming service, the company announced Tuesday. Not only did that reverse the two quarters of subscriber loss the company had previously experienced, it's more than double the million that had been expected, the Guardian reports. Helping Netflix along were Stranger Things 4 and Dahmer—Monster: The Jeffrey Dahmer Story, the two most-watched English-language shows in the company's history, both of which were released in recent months.

Even so, growth has slowed; in the same quarter last year, 4.4 million new subscribers joined Netflix. "We’re still not growing as fast as we’d like,” Spencer Neumann, Netflix’s chief financial officer, said during the company’s earnings call. “We are building momentum, we are pleased with our progress, but we know we still have a lot more work to do.”

"After a challenging first half, we believe we’re on a path to re-accelerate growth," the company said in a letter to shareholders. "The key is pleasing members. It’s why we’ve always focused on winning the competition for viewing every day. When our series and movies excite our members, they tell their friends, and then more people watch, join and stay with us." The company also discussed its plan to crack down on password sharing starting next year, CNBC reports. People who have been sharing passwords will be allowed to instead add (and pay for) sub-accounts for friends and family members. (Read more Netflix stories.)

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