Let’s hope that Netflix’s New Year’s resolution wasn’t to have a wonderful year because that is NOT going to happen. Over the past two quarters, the organization has experienced a drastic decline of subscribers. Given that Netflix announced a nearly one million subscriber decline over the previous quarter, things don’t appear to be improving.
We were able to tell from a distance that the seasoned streaming service had had some difficult times over the previous year. The corporation has been attempting a few strategies to help stem the losses, but they don’t appear to be effective.
NETFLIX JUST LOST NEARLY A MILLION SUBSCRIBERS, IT SEEMS. In an unusual way, this news isn’t entirely awful for the business. The corporation just revealed a further 970,000 reduction in customers, according to CNET , after reporting a loss of roughly 200,000 members in Q4 of 2021. This is a sizable decline.
Advertisement The fact that the corporation experienced numerous years of yearly gains makes this situation worse. It’s a huge shock to suddenly lose hundreds of thousands of people after years of user growth.
The news isn’t entirely awful, as was already indicated, but it’s also not all that positive either. The business predicted it would lose almost 2 million customers back in April. The corporation actually lost 51.5 percent less subscribers than it anticipated, which is better than nothing.
The company still has a lot of work to do, though; although there weren’t a million subscribers this time, things might be different next quarter. The business is taking a few steps to both retain some of its subscribers and increase the amount of money it receives from its current customers.
Advertisement For instance, the streaming service is experimenting the addition of a $2.99 charge for password sharing across households. This is being tested in a few Latin American nations. Additionally, it intends to soon launch an ad-supported tier.