Things aren’t looking so rosy for Netflix anymore, its shares collapsed this week and its subscriber base is declining.
Contrary to expectations – especially from Netflix itself – the number of its subscribers is declining. According to the streamer, this is due to the “end” of the pandemic, which means people have less time to watch streams. But the war in Ukraine is also making a contribution, they suspect. It is expected that the subscriber numbers will drop even further. Especially now that Netflix has withdrawn from Russia, good for 700,000 subscribers.
Competition
It possibly means that harder times are ahead for Netflix. And that’s most certainly not just because of the causes mentioned above. No doubt there are other issues at play as well. The streamer has repeatedly increased its subscription fees recently, for example. While at the same time, a lot of competition for Netflix has entered the market. Many of them stream for lower prices, with offerings of name and fame. Think Amazon Prime Video, Disney, the recently launched HBO Max and certainly also regular broadcasters who have adapted to the “new watching” with their own streaming services (The Dutch NPO+ and NL Ziet, for example). Meanwhile, Netflix is considering the introduction of a cheaper subscription, but with advertising. We’ll have to wait and see how ‘the market’ develops in the coming period.