A grim quarterly report from the streaming service
The value of Netflix’s share continues to decline and now, for the first time in more than ten years, the streaming service is beginning to decline with the number of subscribers.
Netflix In recent years, he received a lot of criticism for releasing many substandard artworks. This infuriated subscribers who began to turn their attention to other streaming services. According to the BBC Netflix lost 200,000 subscribers during the start of 2022, which means that they are now, for the first time since October 2011, falling behind. The reason must also be that they raised prices in their largest markets, such as the USA and the UK.
Netflix tags for a bigger click
Today, subscribers can share accounts with people they do not live with. Netflix now wants to stifle this opportunity in order to get more new users and increase its diminishing revenue.
-When we initially grew fast, turning off account sharing wasn’t a priority issue, but we’re now working hard for it, Netflix CEO said Red Hastings On the question board regarding the submission of their most recent quarterly report.
In a letter to its contributors, Netflix said the surge in recordings they’d seen during the pandemic “blurred the picture” of their development. They are warning investors that they expect another 2 million subscribers to leave by July.
It is also said that Netflix lost about 700,000 subscribers in connection with the shutdown of the service in Russia.
Netflix still has more than 220 million subscribers worldwide.
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