By Jim Geraghty writing for National Review
Netflix expected to gain 2.5 million new subscribers, instead, it lost 200,000 and it's now forecasting a loss of 2 million paid subscribers around the globe in the next quarter. So what's happening with Netflix?
The drop in subscribers is serious for Netflix. They don't have any adverts and they make a majority of their income from paid subscriptions.
From the article,
Netflix’s first, and most consequential, explanation is that, “suspension of its service in Russia and the winding-down of all Russian paid memberships resulted in a loss of 700,000 subscribers. Excluding that impact, the company said it would have seen 500,000 net additions during the most recent quarter.
Jim Geraghty also puts forward other facts that could have impacted Netflix's subscriber count.