Netflix reported approximately 84.11 million subscribers across the U.S. and Canada in the second quarter of 2024, making North America its second-largest global market after Europe, Middle East, and Africa (EMEA).
Netflix reports its first subscriber loss in decades
After a decline in the numberof paid Netflix subscribers worldwide during the first two quarters of 2022, the streaming giant seems to be back on track, adding over 30 million net subscribers in only one year.
The United States and Canada experienced the most substantial combined subscriber loss, which is particularly noteworthy considering that Netflix generates the highest average monthly revenue per user (ARPU) in these countries. When asked about the main reasons for canceling their subscription, many former Netflix users listed the price as their main incentive for leaving. The service’s average monthly fee has increased significantly over the past few years, leading audiences to switch to more affordable (ad-supported) video streaming options or cut down on subscriptions altogether.
Expanding global influence and content catalogs
Netflix remains the leading subscription video-on-demand (SVOD) service worldwide, outperforming all other international streaming powerhouses and local providers by a significant margin. To maintain its global lead, Netflix allocates impressive sums toward marketing while also expanding its regional content. In 2021, for example, the Seattle-based company opened its first office in Stockholm to serve as a hub for the Nordics region. In addition to that, Netflix also produces more original content outside the U.S. to appeal to its diverse international user base.
