Apparently some of you aren’t there to notify Netflix that you’re still consuming their content. The streaming oligopoly is beginning to seem weaker by the day, as it looks to be losing users at an alarming rate.
Netflix’s financial results for the first quarter of 2022 were announced today, and we found that Netflix actually lost customers overall. According to CNBC, Netflix has lost 200,000 customers for the first time in over a decade. There is a caveat for Netflix, though, in that it may have averted a nett loss if things had gone differently in Russia, where it suspended operations.
In the second quarter, things are expected to grow much worse. between April and June. After the much-anticipated arrivals of Ozark season 4 part 2 on April 29, Stranger Things season 4 (starting May 27), and Umbrella Academy 3 (on June 22), Netflix still expects to lose 2 million customers by July.
Netflix’s issues aren’t going away.
Netflix was never going to benefit from the increasingly crowded streaming service fight, with everyone else biting at its heels. Competition isn’t the only reason some may have terminated their memberships, however….
Netflix users may see the whole story here at Tom’s Guide, which is that I quit Netflix for a while because it lost AMC’s Halt and Catch Fire then returned months later because I wanted to catch up on Better Call Saul season 6.
The price of Standard Netflix (the 1080p version) will rise to $15.49 per month from the beginning of 2022. Ad-free HBO Max, which costs $14.99 per month, is the most popular and most costly version of Netflix.
That price increase, coupled with inflation, forces Netflix members to rethink their subscriptions. As far as I know, even my parents are contemplating cancelling Netflix.
As a Netflix customer who has seen several of these programmes, I can tell you that this corporation hasn’t earned my trust. At least one coworker and I are eagerly awaiting the return of GLOW season 4 after the season 3 finale. Netflix, on the other hand, cancelled the show after it had been renewed.
Netflix also remarked that the substantial rise in customers who stayed at home during the height of the Covid-19 outbreak “clouded the image” and “significantly” enhanced its growth. Besides the 222 [million] paying households, we estimate that over 100 [million] more households are using Netflix because of account-sharing, Netflix said in a blog post. There is no surprise Netflix is fighting against account-sharing if a third of its subscribers do not pay.