San Francisco, July 20 (TIWN) Popular video streaming platform Netflix has announced that it lost nearly one million paid subscribers in the second quarter of this year.

In the second-quarter earnings report, the company revealed that it lost 9,70,000 subscribers, which is more than the 2,00,000-member decline from the first quarter.  "The second quarter was better-than-expected on membership growth, and foreign exchange was worse-than-expected (stronger US dollar), resulting in 9 per cent revenue growth (13 per cent constant currency)," the company said in a statement.