The downturn in Netflix subscriber numbers continues. In the first three months of the year, the service lost subscribers for the first time in several years. This caused Netflix stock to plummet.
Netflix itself expects another 2 million fewer subscribers in the second quarter of the year. There seems to be a consolidation going on there. And that seems to be gaining momentum, new numbers show.
Netflix is now losing more and more paying customers after just the 1st month after completing a subscription. In the USA, 23 percent of new customers are said to have canceled their subscription after the first month. Which means the loss of many millions of dollars in revenue.
But Netflix is already countering this. So people have now switched to not unlocking large series in one go, but weekly or even more spread over the year. A circumstance that Amazon Priem Video, for example, is now using for its successful series The Boys Season 3.
Another reason for the loss of customers could be that Netflix unfortunately only produces mass instead of quality and throws out the content indiscriminately. There is not much quality anymore and that should annoy many users. In addition, Disney+ is an overpowering opponent that offers really strong brands with Disney, Marvel and Star Wars.
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