The veteran streaming service has been going through some tough times over the past year, and we could see that from a mile away. The company has been trying out some methods to help stave off the losses, but they don’t seem to be working.
Now, Netflix just lost almost a million subscribers
This news is, oddly, not all bad for the company in sort of a weird way. After reporting a loss of about 200,000 subscribers in Q4 of 2021, the company just reported an additional 970,000 drop in subscribers, according to CNET. This is a pretty major dip. What makes this worse is that this comes after the company had several years of gains year over year. To go from having years of gaining users to suddenly losing hundreds of thousands of users is a massive blow. But, as stated, the news isn’t all bad; then again, it’s not all that good. Back in April, the company surmised that it would lose around 2 million users. So, the company lost 51.5% less subscribers than it thought, so that’s not all bad. However, the company still has a lot of work to do; it wasn’t a million subscribers this time around, but it could be a different story next quarter. The company is doing a few things to both regain some of its subscribers and squeeze more money out of its current subscribers. For example, the streaming service is testing adding a $2.99 fee for sharing passwords across different households. It’s testing this in certain Latin American countries. It’s also looking to add an ad-supported tier in the near future.
