• Netflix Many rivals and less value in its turn to advertising with Microsoft

  • Passwords Netflix will no longer let you share your account with friends and family

Netflix

lost subscribers for the second consecutive quarter, something unprecedented in the history of the

Los Gatos, California-based company.

The 970,000 less paying customers are below the two million that

Wall Street predicted,

but they are the unequivocal sign of the pressure that the

streaming

giant is being subjected to by competition and the current economic panorama worldwide.

The fall in subscribers was reflected in the decline in its net profit, from 1,597 million dollars in the last quarter to

1,440 million in the last three months,

a factor that the company has attributed in part to fluctuations in the global market of foreign exchange.

Even so, their titles were revalued up to 8% in the

after-hours

market after a day with their shares 'in the green' until they broke the barrier of

200 dollars per unit again.

Investors were optimistic about the low-priced ad-supported option to grab subscribers that Netflix will debut in early 2023.

"We will likely start in a handful of markets where ad spend is significant," the company explained in a statement.

"Like most of our new initiatives, the intention is to implement it, listen, learn and quickly iterate to improve the offering. So our ad business in a few years will likely look very different than it did on day one." .

Last week Netflix announced an agreement with Microsoft to carry out its advertising initiative on the platform, with the aim of creating an experience that is less aggressive than traditional television channels, without specifying how many ads per hour they will broadcast with the new service.

The company chaired by

Reed Hastings and Ted Sarandos

also presented its growth expectations for the third quarter.

The goal is to add one million subscribers to the current 220.6 million worldwide to compensate for the accumulated losses of the last two quarters.

Its other great workhorse is to end shared passwords, with the intention of making money with the more than 100 million households that calculate that they consume its content without paying.

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