Netflix lost subscribers for the first time in a decade last quarter
Netflix’s struggle to boost its subscriber count took a dire turn in the first quarter of 2022. The company reported a loss of 200,000 subscribers globally compared to Q4, and it’s forecasting even bigger losses to come. Netflix estimates it could lose up to 2 million subscribers in the second quarter.. “Covid clouded the picture by significantly increasing our growth in 2020, leading us to believe that most of our slowing growth in 2021 was due to the Covid pull forward.
and login info as it seeks to maximize revenue from the users it already has. And it’s not a small problem: Netflix now estimates that as many as 100 million households are using the service via shared passwords. “It’s harder to grow membership in many markets,” as a result of the situation, Netflix said.
The slowdown in signups is reflective of a more competitive streaming landscape: Netflix is contending with more rival services than ever before, each vying for consumer eyeballs and attention. The competition is also getting cheaper, with Disney Plus announcing plans to offer
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