Netflix has not said its last word.

The streaming giant lost subscribers again in the second quarter, but less than expected, and is betting on a rebound this summer, giving hope to investors who feared a tailspin.

Its boss, Reed Hastings, also indicated that the subscription offer with advertising would be launched in early 2023. News that helped the company's stock rebound 5% on Tuesday, with a post-close rise that reached 7%.

The industry pioneer announced on Tuesday that it had lost 970,000 subscribers between the end of March and the end of June, instead of the two million it expected.

"It's not easy to talk about success when you've lost a million" customers, acknowledged Reed Hastings.

“But we are well prepared for next year,” he added during a conference call.

The service, which now has 220.67 million paying subscribers worldwide, was largely disappointed in the first quarter when it admitted to losing subscribers for the first time in ten years, causing its share price to fall sharply.

1.44 billion profit

The Californian group published a turnover of 7.97 billion dollars for the period from April to June, a result lower than expectations which it put in particular on the account of an unfavorable exchange rate.

On the other hand, it made 1.44 billion in net profit, better than expected.

These performances "show that Netflix is ​​not likely to put the key under the door for the moment", reacted the independent analyst Rob Enderle.

“They have saved time, which they need to stop the bleeding” of subscribers, he continued.

Netflix expects to regain one million subscribers in the third quarter and thus reach 221.67 million paying subscribers.

A figure nevertheless still below that of the end of 2021. To achieve this, the platform is counting in particular on the success of the fourth season of the science fiction and teenage adventure series "Stranger Things", which has just concluded. , and also on the imminent release of "The Gray Man", a film by the Russo brothers, the directors of "Avengers: Endgame", which could turn into a franchise if it conquers the public.

An offer with advertising in early 2023

The bosses of the platform had announced, in April, their intention to offer a cheaper subscription formula but with advertising, after years of refusing this less prestigious solution.

“Given the strong demand from brands, this product should increase their revenue per user.

But there's no evidence it's going to slow subscription cancellations or attract enough new consumers,” said eMarketer analyst Ross Benes.

Last week, the company specified that the new subscription would be added to the three options already available (“Essential”, “Standard” and “Premium”), the cheapest being ten dollars per month in the United States.

It aims to launch the formula in early 2023.

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