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Netflix loses 200K subscribers in Q1 2022; will eventually charge 100 million shared accounts

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Netflix has reported its quarterly earnings that reveals that it has earned a revenue of $7.87 billion during the first quarter of 2022, a 10% increase YoY, thanks to 8% year-over-year increase in average streaming paid
memberships and 2% year-over-year growth in Average Revenue per Membership.

The company said that it lost 200,000 subscribers in the quarter, compared to a forecast of 2.5 million and 4 million in the same quarter a year ago. It lost 700 million subscribers due to suspension of its service in Russia and winding-down of all Russian paid memberships. It expects to lose another 2 million in the second quarter of 2022.

Netflix says that out of 222 million paying households, it estimates Netflix is being shared with over 100 million additional households, including over 30 million in the US and Canada region. To increase the revenue, it is looking to monetize sharing, so the 100M+ households using another household’s account will eventually be charged.

Regarding this, Netflix said:

Account sharing as a percentage of our paying membership hasn’t changed much over the years, but, coupled with the first factor, means it’s harder to grow membership in many markets – an issue that was obscured by our COVID growth.

Sharing likely helped fuel our growth by getting more people using and enjoying Netflix. And we’ve always tried to make sharing within a member’s household easy, with features like profiles and multiple streams. While these have been very popular, they’ve created confusion about when and how Netflix can be shared with other households. So early last year we started testing different approaches to monetize sharing and, in March, introduced two new paid sharing features, where current members have the choice to pay for additional households, in three markets in Latin America.

There’s a broad range of engagement when it comes to sharing households, from high to occasional viewing. So while we won’t be able to monetize all of it right now, we believe it’s a large short- to midterm opportunity. As we work to monetize sharing, growth in ARM, revenue and viewing will become more important indicators of our success than membership growth.

Author: Naijaonpoint NG

Naijaonpoint NG is a Mobile Technology Enthusiast who is passionate about Mobile phones and Mobile apps. He uses the phones he reviews as his main phone. You can follow him on Twitter and Instagram
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Top 10 Movies You Should See This Weekend: Memory, Morbius, More

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morbius

Another weekend is here, time to relax and chill with your love ones. Every weekend, we normally compile the top ten most downloaded movies of the week, some of which will give you a clue into the next movie you should see.

For this week, ‘The Northman’ tops the chart, followed by ‘The Lost City’. ‘The Batman’ completes the top three. This week we have four new entries on the list. “The Northman” is the most downloaded title.

Memory Movie

Top Ten Downloaded Movies of The Week

The Northman

The Lost City

The Batman

Uncharted

Fantastic Beasts: The Secrets of Dumbledore

Sonic the Hedgehog 2

Morbius

Doctor Strange in the Multiverse of Madness

Spider-Man: No Way Home

The Bad Guys

The data for our weekly download chart is estimated by TorrentFreak and is for informational and educational reference only. All the movies on the list are Web-DL/Webrip/HDRip/BDrip/DVDrip unless stated otherwise.

These torrent download statistics are meant to provide further insight into the piracy trends. All data are gathered from public resources.

Other Recommended Movies

Memory

Dual

The Valet

Jersey

Morbius

You can download the above-recommended movies and any other one you are yet to see from Netflix Premium Mod or use FileChef to get any movie download link of your choice.

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Just IN: Airtel SmartCash Bank Begins Operations Fully

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Airtel Nigeria

Airtel Africa Plc has announced that its payment service bank subsidiary, SmartCash, has commenced operations in Nigeria.

This was disclosed in a statement signed by the company’s secretary, Simon O’Hara and filed with the Nigerian Exchange Group (NGX).

Airtel smartcash

The statement read, “Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces that its subsidiary SmartCash Payment Service Bank Limited (‘SmartCash PSB’), has commenced operations in Nigeria”.

According to the disclosure, services will be provided at select retail locations at first, with operations gradually expanding across the country over the coming months.

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