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Netflix loses thousands of subscribers after subscription price hike

NBC — Netflix has lost paid subscribers for the first time in eight years.

The popular streaming service says it has lost 126,000 paid subscribers in the United States.

Analysts had expected Netflix to gain more than 350,000 new subscribers during the second quarter. The company also missed its own forecast for global subscriber growth by more than 2 million.

Netflix says the loss of customers was most pronounced in regions that saw price increases and not due to competition from other streaming services. The defection of U.S. subscribers comes after Netflix bumped up its prices earlier this year.

Netflix says it will have more robust content in the coming months to attract more subscribers.

NBC News

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