Netflix has some pretty bad news for subscribers for the first time in a decade, and the outlook isn’t great either.
Netflix lost in it first quarter of 2022 no fewer than 200,000 subscribers and that will be ten times as many in the near future! How come the glory days of the streaming service are over?
Netflix is losing subscribers en masse
Netflix is still the absolute ruler in streaming land, but has to give up for the first time in 10 years. Surprisingly enough, this is not because of Netflix itself, but because of Putin. Since the streaming service is no longer available in Russia, it lost 700,000 subscribers.
On the other hand, Netflix gained 500,000 new paying customers worldwide. So, net 500k – 700k = -200k subscribers lost, caused by the Russian invasion of Ukraine.
Future is gray
That does not alter the fact that Netflix expects to lose subscribers en masse in the coming period. from a letter to shareholders (.pdf) Netflix expects to lose another 2 million paying customers in the second quarter of 2022.
How is that possible? According to the streaming service, this has several reasons, including a particularly good 2021. The growth has slowed down a bit. That’s because the corona crisis is over, so we can finally get back on the road. This leads to a decrease in the number of subscribers.
It is also estimated that almost half of all Netflix users are not paying customers. Recently, the streaming service announced that it will offer cheaper sub-subscriptions. Measures will therefore be taken against account sharing. Well, then you will of course lose some of your viewers.