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Netflix loses 970K Subscribers in 4 months

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Netflix says it lost 970,000 subscribers in the last quarter, a good result compared to the company’s prediction of losing 2 million subscribers.

The announcement comes as Netflix’s stock has dropped more than 65 percent in the last year as a result of customer dissatisfaction with high subscription costs and the rise of other cheaper streaming services such as Disney+, Hulu, Amazon Prime, and HBO.

During the first quarter, when Netflix lost 200,000 subscribers and spurred Wall Street and Hollywood to reevaluate the economics of the streaming business, the company warned that it expected to lose an additional 2 million subscribers during Q2. Though the quarter still ended with a net loss in subscribers, the streaming giant is projecting it will add 1 million subscribers in Q3.

Netflix on Tuesday, July 19 said it now has a total of 220.67 million subscribers, a decrease from the 221.64 million reported at the end of Q1. Revenue hit $7.97 billion for the second quarter, representing a roughly 8 percent year-over-year growth in part due to a “stronger U.S. dollar,” according to Netflix’s letter to shareholders, while net income landed at $1.44 billion.

By region, Netflix saw the most losses in the U.S. and Canada, despite major English-language series like Stranger Things‘ fourth season premiering during the quarter. US and CANADA saw a 1.3 million loss in subscribers, dropping to a total of 73.3 million paid subscribers in the region.

Europe, Middle East and Africa region also saw a decline in subscriber growth during Q2, losing 770,000 subscribers, while Latin America saw a modest addition of 1,000 paying subscribers.

The Asia-Pacific region emerged as the strongest contributor to Netflix’s subscriber growth, bringing in 1.08 million subscribers during the quarter.

In the aftermath of its Q1 earnings report, Netflix went into overhaul mode: The streamer implemented several rounds of layoffs, with the most recent resulting in the loss of 300 staffers, which amounted to $70 million in severance costs; reevaluated its film strategy to focus on fewer but better projects, moving away from the low-budget fare; then decided to staft an advertising-supported subscription tier by partnering with Microsoft, which will handle sales and tech for the streaming company.

In its letter to shareholders, Netflix said it planned to release its ad-supported tier “around the early part of 2023.” The offering will likely first roll out in markets where “advertising spend is significant.” The letter continued, “While it will take some time to grow our member base for the ad tier and the associated ad revenues, over the long run, we think advertising can enable substantial incremental membership (through lower prices) and profit growth (through ad revenues).”

Kubidyza is a Global Celebrity Blogger, Music Promoter and a Social Media Influencer | Most Influential Blogger In Ghana For Bookings: Kubinho80@gmail.com

Media & Culture

Werner makes RB Leipzig return after frustrating Chelsea spell

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Timo Werner has rejoined RB Leipzig from Chelsea on a four-year contract.

The Germany forward failed to live up to expectations since moving from Leipzig to Stamford Bridge for a fee of £47.5million (€50m) two years ago.

Although reports suggested his return would initially be on loan with an option to buy, the Bundesliga club have instead secured him on a contract that expires in 2026.

The 26-year-old scored just 10 Premier League goals in 56 appearances for the Blues, having arrived at the club with 95 goals for Leipzig between 2016 and 2020 to his name – that remains a club record.

Werner was not included in Thomas Tuchel’s squad for Chelsea’s 1-0 win over Everton in their first game of the Premier League season, and he said farewell to the club in a social media post on Tuesday.

Werner wrote: “Dear Blues, today marks the end of my journey with Chelsea FC.

“I am incredibly grateful for the time I spent at this special club. At this point I would like to express my appreciation for my teammates, the coaches and staff, and especially for you, the special supporters of Chelsea Football Club.

“I felt so much love and support throughout the last two years and I will never forget how you guys stood behind me in good and in challenging times!

“We lifted trophies like the Champions League together and I will always remember the song you wrote and chanted for me. I’m already looking forward to hopefully playing at Stamford Bridge again one day! See you soon, Timo.”

Soon after, Leipzig confirmed the transfer had been completed.

Their statement read: “Timo is back – and is now snapping again for RB Leipzig!

“Our record goalscorer (95 goals) is returning to the Bundesliga after two years in the English Premier League with Chelsea and is again hunting for goals for the Red Bulls.

“The attacker has signed a four-year contract until 2026.”

Despite Werner’s failure to live up to the hype after his switch to Stamford Bridge two years ago, his tally of 23 goals in all competitions since he joined Chelsea is the joint-highest in the Blues’ squad, alongside Kai Havertz, who also arrived from the Bundesliga in 2020.

With 17 assists, Werner has directly contributed to 40 goals in his 89 appearances, putting him behind only Mason Mount (46 goal involvements in 108 games).

Only Mount has had more shots than Werner (191) in the last two seasons for Chelsea, though the former Stuttgart star converted just 12 per cent of those efforts while missing 32 big chances (defined by Opta as an opportunity from which a player would be reasonably expected to score), showing his profligacy in front of goal.

Werner scored 28 Bundesliga goals in his last season with Leipzig, outperforming his expected goals (xG) of 21.

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Everything you must know about Kizz Daniel’s arrest in Tanzania

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The Tanzanian police have detained Nigerian artist Kizz Daniel for allegedly refusing to take the stage at his concert on August 7, 2022.

According to Gistreeel, the artist, who had only arrived in the nation earlier in the day, reportedly declined to perform since his clothing wasn’t available.

A video that was posted online captures the moment several concertgoers destroyed the stage as many others furiously departed.

On social media, angry fans complained that they had paid up to $5000 for tables simply to see the artist perform live.

This marks the third time that fans have criticised Kizz Daniel for postponing his gigs.

He was initially hauled on July 7 after keeping fans up for more than five hours at his show in the District of Columbia.

After unexpectedly cancelling his Denver gig on July 28, 2022, he was once again pursued by his fans.

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John Legend Announces Double Album ‘Legend,’ Reveals Tracklist

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John Legend, R&B superstar has announced his eighth studio album, Legend, which will be released on Sept. 9.

Executive produced by Legend and Ryan Tedder, the double album marks the first time the 12-time Grammy winner has officially embraced his legendary name.

“Until this point, I’ve never used an aspect of my name as the title of an album,” Legend said. “I had to earn that, to live up to it by delivering in the performance and the music. And this is me saying, I’m proud of who I am, I’m confident in the work I’ve done, and I’m just going to declare it.”

The 24-track album is divided into two acts and includes appearances from Rick Ross, Jhene Aiko, Ty Dolla $ign, Jazmine Sullivan, Amber Mark, Jada Kingdom, Rapsody, Ledisi, and Saweetie, who joins Legend on his new single “All She Wanna Do.”

“It kinda reminds me of Michael Jackson Off the Wall energy, Whitney Houston ‘I Wanna Dance with Somebody,’ and it feels so good,” he said of the uplifting track, which was co-written and produced by Tedder, Monsters and Strangerz, Zach Sketon, Andrew DeRoberts, and Halatrax. “It’s about a woman that you see out at a club who is just living her best life, embracing the party life, and you want to be a part of it.”

The album has previously spawned singles including “Honey” with Muni Long and “Dope” featuring JID.

Earlier this week, Legend and his wife Chrissy Teigen announced that they are expecting another child, two years after the pregnancy loss of their third child, Jack.

Tonight, Legend will kick off the second leg of his residency, “Love in Las Vegas,” which runs through October.

Legend Tracklist

ACT I
1. “Rounds” feat. Rick Ross
2. “Waterslide”
3. “Dope” feat. JID
4. “Strawberry Blush”
5. “Guy Like Me”
6. “All She Wanna Do”
7. “Splash” feat. Jhene Aiko and Ty Dolla $ign
8. “You”
9. “Fate” feat. Amber Mark
10. “Love” feat. Jazmine Sullivan
11. “One Last Dance”
12. “All She Wanna Do” feat. Saweetie

ACT 2
1. “Memories”
2. “Nervous”
3. “Wonder Woman”
4. “Honey” feat. Muni Long
5. “I Want You to Know”
6. “Speak in Tongues” feat. Jada Kingdom
7. “The Other Ones” feat. Rapsody
8. “Stardust”
9. “Pieces”
10. “Good” feat. Ledisi
11. “I Don’t Love U Like I Used To”
12. “Home”

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