Netflix suffered a major setback in the second quarter. According to the report, 970,000 users left Netflix from April to June. This is the biggest quarterly loss in the company's history. Netflix was dropped by users in the first quarter as well, but this is much higher than the company's estimates.
Netflix announced in its letter to shareholders that it would launch ad-supported tiers in early 2023. Also, next year will see the official rollout of the paid sharing offer. Also, Netflix has announced that it is testing a new feature that will charge an additional $3 for sharing accounts with other users.
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