Netflix forecasted a loss of two million subscribers in the second quarter this year, on top of a loss of 200,000 subscribers in the first quarter
Today, however, Netflix is facing a number of headwinds. The company partly blamed its declining subscriber count on password sharing, where people watch the service using someone else’s account, and said it’s working to address the problem.
For some Netflix customers, the problem is simply a lack of engaging shows. Toronto resident Ryan Chatterjee, 28, said he cancelled his subscription in March, 2021, after one year of having a basic membership plan. Prior to that, he was sharing his former roommate’s account for a year. In recent years, Netflix’s “growth came at a time where all the competitors weren’t really there or operating at the same scale as today,” Prof. Dubois said. “But now they’re seeing many other competitors.”
Echoing Mr. Roy’s sentiments is Christopher Robin Lai of Stouffville, Ont. “There are now two other streaming services I have purchased but to be honest I keep going back to Netflix because of the variety and the Netflix Originals. It’s still the king of streaming in my opinion.
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