Netflix loses nearly 1 million subscribers

The media world breathed a huge sigh of relief Tuesday, especially in streaming as Netflix’s second-quarter earnings report revealed the company lost 970,000 subscribers. And while that is a big number — the biggest subscriber loss in the company’s 25-year history — it is also a little less than half the 2-million subscriber loss the company predicted in April, which sent shock waves through Wall Street and the streaming industry.

In fact, much of Netflix’s Q2 report read like an attempt to assure investors and the media world it has learned a lesson from April’s news, when the company announced a 200,000 subscriber loss — which sent their stock plummeting 37% in a day, leading to several rounds of layoffs and belt-tightening. The report even provides a little good news, predicting a 1 million subscriber gain in the third quarter.