Netflix Loses Nearly 1 Million Subscribers in Just 3 Months!

Netflix certainly didn’t get off to the best of starts in 2022 when, for the first time in over 10 years, the platform saw a substantial drop in its subscriber count. While this clearly didn’t bode particularly well for the prospects of Q2, however, following a report via the BBC, Netflix has, once again, dropped subscribers for the second quarter in a row.

This time around, however, the amount of people leaving the platform has risen dramatically suggesting that arguably for the first time in its history, Netflix might be entering something of a moderate crisis point!

Netflix Loses Nearly 1 Million Subscribers in Q2

Following on from circa 200,000 people leaving Netflix in Q1, the Q2 results are substantially more shocking as it has been confirmed that in this 3-month period, an additional 970,000 people cancelled their subscription to the streaming platform.

And as crazy as this might sound, Netflix appear to be somewhat pleased that the figure isn’t even more substantial citing that the only thing that likely stopped this being even greater was Stranger Things season 4’s part 2 release. With that now concluded, however, it does seem to suggest that they are predicting even more people to leave the platform in Q3.

A Worrying Trend?

The issues currently facing Netflix are, of course, well known. In brief, though, it does primarily come down to three key factors:

• An overall drop in new ‘must watch’ programming
• Price increases for the last 3 years (pretty much on an annual basis at the moment)
• In this post-covid world, people are not so reliant on home entertainment as they were between 2020-2021

While all these three issues will continue to present problems for Q3, it’s also hard to ignore that with their continued crackdown on password sharing, this too will certainly result in at least a temporary drop in members.

In fact, the only thing Netflix might have going for them at the moment is their upcoming ‘ad-supported’ entry-level tier which is only expected to cost something in the region of £2.99 a month. – Albeit, information has already appeared online suggesting that this might be a naughty boy rather than the Messiah due to them potentially limiting the content available on this ‘budget’ tier when compared to its more standard subscription options.

Any way you look at this though, Netflix clearly has a pretty substantial problem on their hands. What do you think though? What would you suggest could help solve their plummeting subscriber count? – Let us know in the comments!