Netflix Loses 970,000 Subscribers In April-June Period: Reports

Netflix has reported that it has lost 970,000 subscribers in the April-June period, media reports have said.

The streaming company had predicted that it would lose 2 million customers in the quarter. It has now estimated that it will add 1 million customers in the July-September quarter. As per reports, the Q2 revenue stands at $7.9 billion, a 9% year-on-year increase.

In April, Netflix announced that it was launching an ad-supported cheaper subscription plan. 

The company had also claimed that its strategy to drop prices in India was working. Top company officials then said that the platform has seen a rise in its subscriber base following the reduction in the subscription price.