2 Reasons Why Netflix Could Face Tougher Times Ahead
Netflix (NASDAQ: NFLX) announced its loss of 970,000 subscribers in the second quarter of 2022 after projecting a loss of 2 million. The company's hit content was a leading factor in the improvement, but its third quarter might not be so lucky -- here's why.
On July 19, Netflix co-CEO Reed Hastings discussed the company's positive second-quarter results in an earnings call, attributing much of its improved subscriber losses to its content -- thanking one show in particular. The executive said, "If there was a single thing, we might say Stranger Things." Part 1 of the show's fourth season was released May 27, generating 1.3 billion viewing hours in the first four weeks -- becoming Netflix's biggest season for an English series ever.
In addition to the juggernaut Stranger Things, Q2 2022 also saw the finale of the Netflix hit Ozark on April 29, with the release of part 2 of the show's final season. The last seven episodes racked up 78.4 million viewing hours in its first three days, making it the company's most-watched English-language TV series before Stranger Things Season 4 was released a month later.
Source Fool.com
