According to recent announcements made by Netflix, the streaming service has lost over 200,000 subscribers during the first quarter of 2022, which does not include those residing in Russia. Netflix also predicts that they will lose 2 million subscribers by summer. Currently, this is the most users they have lost within a three-month period, since 2010. The members of Netflix’s lead team blame several outside platforms for this dramatic shift, while also raising their prices and removing fan-favorite content simultaneously.
Earlier this year, Netflix shared that they would be raising their prices and would make people pay another full price if people outside their household are sharing the same account. This has caused major backlash by users and non-users alike all over social media, which may have contributed to Netflix’s loss. These price changes came to light shortly after beloved content was removed from their platform during the month of February. However, Netflix believes that the cooldown of the COVID-19 pandemic is to blame for their shortcomings. They also blame the reliance on social media, particularly TikTok, for their downfall, claiming that most people no longer have time to sit down and watch TV compared to two years ago. On April 22, Netflix announced they would be canceling upcoming animation projects shortly after their sudden drop in users.
Of course, Netflix has had heavy competition from other streaming services in more recent years, including Disney Plus, HBO Max, and Paramount Plus — all of which have been released in the past three years. Perhaps people no longer prefer Netflix’s content, including their films and television shows, simply because there may be better options out there as opposed to seven years ago. Or maybe the new fees and policies simply seem unjust? Netflix’s hit originals, such as Stranger Things (2016–present) and Ozark (2017–present), seem to not be enough to keep consumers around to watch both old and new content, regardless of the service’s popularity.
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