Netflix is going through a tough time at the moment, the company reported a loss of 970.000 subscribers.
Tech insiders say the streaming service market is more competitive than ever before. The streaming service is still optimistic that it will add one million subscribers in the third quarter.
The number one streamer announced the launch of the ad-supported tier in partnership with Microsoft, however, the rollout will start early part of 2023.
It’s fair to say, the writing is on the wall that the company is on decline, recently Netflix picked up 105 Emmy nominations while their rivals HBO and HBO Max picked up 140 nominations.
The market cap of the company went down from $300 billion to under $90 billion in less than a year.
Netflix is currently testing a new feature ‘add a home’ that will charge an extra $3 to share accounts with other households.
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