Did Netflix really shit themselves?
Netflix shares has dropped by over 20 percent after they lost two hundred thousand subscribers within January to March being the first quarter of the year. Worst part is they are expected to lose about two million more subscribers in the next quarter which is from April to June. Apparently this is its first loss in over a decade. Because of this loss, their subscriber count has gone from 221.8 to 221.6 subscribers.
Here’s what I think, Netflix has had this coming. Between raising their prices and canceling subscribers favorite shows, there’s only one way this could go. Don’t get me started on the fact that there’s hardly anything of interest to watch these days on Netflix. Thing is people used Netflix because it was cheap but now it’s like they don’t need it anymore. The price hikes isn’t proportional to the value being delivered and that’s why users keep dumping them. From five dollars a month now at fifteen dollars all while constantly giving mid contents; nah.
Remember when Netflix suspended its services in Russia following the Russian Ukrainian war? Well now they’ve lost 700 000 Russian subscribers for it and now down 25% in shares. They also deleted their app from Russian markets. They did for the right reasons I guess, as a protest against Russia going to war with Ukraine.
Netflix also claimed that sharing passwords amongst friends and households is one of the leading causes of the decline in their numbers but I’m not sure how they got there because they one put out a tweet that read: ‘Love is sharing a password’. Anyways, I hope the billions of dollars they’ve been making in profit has been worth it.
There are also factors which Netflix didn’t exact create themselves that’s also responsible for the decline in numbers like Networks reclaiming their titles for their own platforms. For instance, all Marvel contents are going to Disney+, D.C contents moving to HBO max, as well as NBC and Paramount. Leaving viewers with original Netflix contents which they keep canceling after two seasons. Viewers are having a hard time getting invested in shows that’ll be gone before thy know it.
Check this out, while Netflix is reeling with the loss of two hundred thousand subscribers and more to go, it’s competition like HBO and HBO max actually gained three million subscribers in the first quarter. With a bunch of other streamers with better quality content, there’s hardly any hope of redemption for the big red N.
However, Netflix is set to introduce a cheaper plan though, it’s so ridiculous because then it’ll be accompanied with annoying ads. Imagine! The entire point of streaming platforms is not having to deal with commercials so what exactly is the point? I’m not exactly sure how well this ad supported tier is going to fare when they’re several other streaming platforms with better services.
I wish them well but it’s really in the hands of the users now everyone will gravitate towards platforms that are more user friendly.
As a user i of f Netflix myself, I say they need to better.
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I liked the original netflix which allowed people to rent old movies and TV shows through the mail.
I unsubscribed when they became a media company. I get enough second rate media as is.
Well, that was a stupid move. Netflix is just a diversion. It does not bring wealth to Russia. Suspending entertainment services in Russia did nothing but gave Putin control over what Russians saw.
I admire companies that take principled stands against atrocities. Netflix suspending service looks like it was little more than virtue signally as they were not creating wealth for Putin.
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Wow! I just googled this and found out they used to rent DVDs by mail in 1998 and then changed into a subscription model a year later. There’s no way I could have known cause I’m a Gen Z 😭
Another day another knowledge.
Well, I wrote an article then about the Netflix move in Russia and how it was the people who would suffer it more. It was a futile move but I guess everyone was trying or pretending to be on the side of justice. Netflix should have really sat that one out.
Thank you so much for reading and leaving this nice comment. Much appreciated. Have a wonderful weekend.
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The thing that was interesting about the first service was that they had a deep selection of content. They pretty much had every movie released in DVD format.
As I recall the standard subscription allowed users to have 5 movies out at a time. There was never a late fee; So, I made a list of all the movies that I might want to watch and slowly worked my way through the list.
The service was great for people interested in film history.
When they transformed into a streaming service, they reduced the depth of the content.
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I enjoy Netflix, I don't know what else to use. HBO Max and Disney have refused to work for me, can't access them
I use Netflix myself but it has become so boring. I haven’t tried other streaming platforms because I’m too busy for movies and shows these days but I’ll ask someone who uses HBO and I’ll tell you how.
Have a great weekend. ❤️
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