The massive drop in subscribers on Netflix at the end of April has already been announced: 200,000 fewer users in the first three months of 2022. Things are not going well, although it remains an excellent platform for many.
There are several reasons for this loss. These include strong competition from other companies, the inability to expand into some regions due to technology restrictions, the war between Ukraine and Russia, and account sharing.
However, this seems to be getting worse as Netflix sees it quite possible that they could lose even more subscribers this year. One of the explanations considered for this loss of subscribers is, The market is getting more competitive with clearly prominent players like Disney plus or HBO Max.
Netflix CEO Reed Hastings made this very clear, The error is mainly due to two factors: the war in Ukraine and the sharing of passwords.
However, this sounds more like excuses or escapism than tackling a major underlying problem: The content is very poor quality.
When Netflix arrived, its appeal was obvious. Very high prices and really good content. Also, the app was fast and hassle-free, making it the obvious choice for most people.
The problem was that he decided to go mass-streaming. Goes into debt to invest $15 billion in original content (Sex Education, Stranger Things) and what seemed to have gone well for them at first, now falls short with fierce competition.
As if that wasn’t enough, let’s add that Dave Chapelle had some PR issues with his transphobia (Netflix special), which the company gave a surreal response to, don’t watch if you don’t like it. HE IS.
Except for the new seasons of the legendary series or the great successes like The Squid Game, all of these have degenerated into a platform with poor quality content. So it looks nice obviously losing subscribers or the rest are not willing to pay more for an account.
Reason The company’s problems are not password sharing, but password mismanagement and wasted initial advantage. Rather than blaming the outside, it would be better for them to look inside.
Source: Computer Hoy