The company reported a bigger loss of subscribers in the second quarter of its fiscal year.
That's a good news for the company. Earlier this year, the company lost 200,000 paid users, the first subscriber loss in a decade.
Despite the exodus of subscribers, the company gained revenue in the second quarter, growing from $8 billion to $8 billion. The streaming giant raised its prices for Canadians earlier this year.
Increasing prices are one of the reasons why the company is losing subscribers. Customers are likely to find cheaper alternatives to consume content due to the growth of streaming services.
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Earlier this year, it was speculated that an ad-supported tier would be introduced to appease subscribers who left or are considering leaving. The company announced that it would be partnering with Microsoft to power its ad services.
Password sharing tests in Latin America cost as much as $3 per household and the company is taking a harsher stance. An easy-to-use paid sharing offering is in the works.
It has been speculated that the recent strategy of "Stranger Things" may have saved it. The first part of the show was released in May and the last two episodes in July. The most watched season of English TV on the platform was the fourth.
The second season of the Squid Game series was announced by the company.
"Our challenge and opportunity is to accelerate our revenue and membership growth by continuing to improve our product, content, and marketing as we've done for the last 25 years, and to better monetize our big audience."
The company may see a growth of more than one million subscribers in the third quarter. According to CNBC, analysts think that subscriber growth will be as high as 1.8 million. It won't necessarily mean the end of the streaming troubles of the company.
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