Neflix lost 200,000 customers globally in the flagship streaming service’s Q1 earnings report. The company also expects to lose another 2 million subscribers in the second quarter. Reasons for the decline in subscribers include competition from rival streaming platforms and the sharing of accounts between friends and family.
On Tuesday Netflix co-CEO Reed Hastings said that ads will soon be incorporated into the service, according to Deadline. The introduction of ads and new pay tiers on the platform is an attempt to recoup some of the revenue lost during the first quarter of 2022.