Netflix’s usage and churn are “back to what they were a year ago”, while subscriber growth was down (+2.2 million globally)

Two levers contributed to Netflix’s recent explosive growth, adding 26 million subscribers in the first half of the year: the pull-forward effect of the pandemic that saw future subs coming to the service early, and the drop in churn as those intending to leave hung about as there was nothing else to do except watch TV.