Netflix Loses 200K Subscribers

Netflix Loses 200K Subscribers

Netflix loses approximately 200,000 subscribers during the first quarter of 2022 due to increased competition, password sharing and more.

You Are Reading :[thien_display_title]

Netflix has lost 200,000 subscribers in the first quarter of 2022.

According to The Hollywood Reporter, Netflix predicted to add 2.5 million subscribers during the first quarter of 2022 but instead lost approximately 200,000. The streaming service cited a number of reasons for the decrease, including password sharing, rival streaming services and more. Netflix also recently suspended its service in Russia following the invasion of Ukraine, where there were approximately 700,000 subscribers. The losses are expected to continue into Netflix’s current quarter, which lasts from April to June, as the company is now predicting to lose another two million subscribers.

According to IndieWire, Netflix ended the quarter with 221.64 million paid subscribers. At the end of 2021, Netflix reported a total of 221.84 million subscribers. “Our revenue growth has slowed considerably as our results and forecast below show. Streaming is winning over linear, as we predicted, and Netflix titles are very popular globally,” the company said in a letter to shareholders. “However, our relatively high household penetration – when including the large number of households sharing accounts – combined with competition, is creating revenue growth headwinds. The big COVID boost to streaming obscured the picture until recently.”

To combat the issue of password sharing, Netflix has been testing a new monetized feature in Chile, Costa Rica and Peru. The feature charges the primary subscriber a small fee when adding additional users who live outside their household onto their account. “Members on our Standard and Premium plans will be able to add sub accounts for up to two people they don’t live with – each with their own profile, personalized recommendations, login and password – at a lower price: 2,380 CLP in Chile, 2.99 USD in Costa Rica, and 7.9 PEN in Peru,” the company explained on their website. Netflix has not yet announced if there are plans to distribute the feature globally. Netflix also recently raised its prices between $1 and $2 in the United States and Canada, depending on users’ subscription plan.

See also  Windbound Preview Survival Looks Stunning

As Netflix continues to put out a large quantity of original content to lure subscribers in, the company has begun to expand into gaming over the past couple of months. Netflix’s mobile app allows users to play games such as Stranger Things 3: The Game, Arcanium: Rise of Akhan, Asphalt Xtreme and more. The games are included with a Netflix membership and don’t include any additional in-app purchases or ads.

Source: THR, IndieWire, Netflix

Link Source : https://www.cbr.com/netflix-loses-200k-subscribers/

Movies -