Netflix announced Tuesday it lost 970,000 subscribers in the last three months. Here's what that means for the shows and movies you can stream.
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We spoke to experts in the entertainment industry about what's going on at Netflix, and what might happen next. It might be as wild a ride as any Netflix original series. In an April earnings call, the streamer announced that it had lost 200,000 subscribers, marking its first decline since 2011. It then predicted a loss of 2 million subscribers in the three months ending June 30.
Production of new TV shows and movies takes some time, so"any moves Netflix makes today won't be felt for another two years, or possibly more, when it comes to the consumer," says Tom Nunan, a former network and studio president who now teaches at UCLA. The second quarter subscriber loss beat the company's own expectations – and Netflix is forecasting a gain in the next three months – so all may not look so terrible for the streamer, for now. Analysts say the release of"Stranger Things" Season 4 in two parts, which Netflix claims is its most-streamed English language series, may have helped stem more pronounced losses this quarter.