Netflix users started to cancel their subscriptions after the hikes and the new password sharing plan announced by the company. The streaming giant, which experienced a rapid loss of subscribers, started to make layoffs by holding its employees responsible for this. According to reports released today, Netflix users are ending their subscriptions, while subscribers of other streaming subscriptions continue to increase. In other words, members who leave Netflix are switching to other platforms. Let’s take a look at the news together.
Netflix wants to stop the loss of subscribers!
Antenna investigated the interactions of SVOD platforms at the end of Q1. As a result of the research, he announced that Netflix lost subscribers rapidly in the first quarter of 2022. Antenna revealed that there has been an increase in the subscriptions of other platforms in the SVOD category. According to the results of the research, a total of 37.4 million new users came across all streaming platforms, while 29.8 million users terminated their subscriptions.
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Paramount Plus, Peacock and Disney Plus account for 51 percent of inbound subscribers in the first quarter of 2022. It also consists of new users coming to the three services and leaving Netflix.
Netflix announced that the loss of 200,000 subscribers in 2022 was the fastest loss it has experienced in more than a decade. In addition, according to estimates, Netflix will experience greater losses in the second quarter of 2022.
The company recently started testing the live broadcast feature to prevent these losses. According to preliminary information, some talk shows and dance programs will be broadcast live on the platform. In addition, a voting system will be introduced for live broadcasting. However, it is unclear whether the live streaming feature will be able to withstand the loss of subscribers due to the high price increase.
What do you, our readers, think about this issue? Have you switched to another platform or terminated your subscription due to the price increase of Netflix? You can express your thoughts in the Comments section.