Netflix Reports 200,000 Paid Net Subscriber Losses for Q1

The suspension of the Netflix service in Russia and the “winding-down of all Russian paid memberships" sent Q1 global streaming paid net additions into negative territory, reported the company Tuesday. Paid net subscriber losses were 200,000 compared with the outlook for 2.5 million global streaming paid net additions in the Jan. 20 forecast. Russia caused losses of 700,000 paid net adds. Net additions would have been up by 500,000 globally “excluding this impact,” said Netflix. The Q2 forecast is for paid net losses to worsen to 2 million, compared with nearly 1.54 million paid net additions in 2021's Q2. “Our forecast assumes our current trends persist (such as slow acquisition and the near term impact of price changes) plus typical seasonality.”