Netflix reports losing a million subscribers, fewer than expected
Netflix reported on Tuesday losing subscribers for the second quarter in a row as the streaming giant battles fierce competition and plateauing demand.
But, the loss of 970,000 paying subscribers was less than expected, leaving the company with just shy of 221 million subscribers.
The world’s largest streaming service is facing the fiercest competition ever from companies looking to attract viewers to online entertainment. Walt Disney, AT&T Inc.’s WarnerMedia, Amazon.com Inc. and Apple are among the rivals pouring billions into new programming.
Its biggest competitor in Turkey is the Turkish video-on-demand service BluTV, which was the most preferred platform last year, beating Netflix.