Netflix Loses Subscribers for the First Time in 10 Years, Blames Account Sharing

[usagora]

You want to talk dishonest... Look at the Netflix pricing page. Notice they list it by "Number of screens you can watch on at the same time" and don't even mention it is per household anywhere on the page? That and as others have mentioned they used to promote sharing of passwords/accounts.

	Basic	Standard	Premium
Monthly cost* (United States Dollar)	$9.99	$15.49	$19.99
Number of screens you can watch on at the same time	1	2	4
Number of phones or tablets you can have downloads on	1	2	4
Unlimited movies, TV shows and mobile games	✓	✓	✓
Watch on your laptop, TV, phone and tablet	✓	✓	✓
HD available		✓	✓
Ultra HD available			✓

Helps to read:

Netflix

Choose a Netflix subscription plan that's right for you. Downgrade, upgrade or cancel any time.

www.netflix.com

Also, not sure what Netflix may or may not have done in the past is relevant to what's true now. Their service. Their rules.

 

[azentropy]

Helps to read:

Netflix

Choose a Netflix subscription plan that's right for you. Downgrade, upgrade or cancel any time.

www.netflix.com

View attachment 1994144

Also, not sure what Netflix may or may not have done in the past is relevant to what's true now. Their service. Their rules.

Did you even look that the help/pricing page I linked to or did you completely miss the point? Why wouldn't they also list it there as well???

Either way it is bait and switch. Of course it is is their service and their rules, but again the point is made how dishonest they themselves are being about it.

 

[SBacklin]

Right... account sharing.

As if that hasn't been happening for years and years and years now, over the course of which they've managed to grow subscribers every quarter. But when the saturated and more competitive OTT market slows their subscriber growth numbers, let's blame account sharing.

That was my thought as well. I do share it, with ONE person. It comes from Netflix being paid for by the mobile carrier and the one person I share it with does help pay the mobile phone bill. I'm sorry but not sorry, that one person has a damn right to utilize Netflix. They just don't live with me. If Netflix attempts to make me pay more than $22 I'm already paying, they can go F themselves. I will be closing the account.

 

[usagora]

Did you even look that the help/pricing page I linked to or did you completely miss the point? Why wouldn't they also list it there as well???

Either way it is bait and switch. Of course it is is their service and their rules, but again the point is made how dishonest they themselves are being about it.

I linked you to the actual sign-up page, not just an article explaining their pricing. There is no bait and switch. They NEVER state nor imply that you can let other households share your account in that article you linked to.

 

[unobtainium]

Hmm..aren’t there rules about deliberately misleading shareholders in earnings reports? The absurd notion that password sharing is responsible for the revenue decline would seem to qualify as misleading.

There is no chance that password sharing has changed that dramatically this past year. What has changed is the price and the amount of (better priced) competition.

 

[SBacklin]

Did you even look that the help/pricing page I linked to or did you completely miss the point? Why wouldn't they also list it there as well???

Either way it is bait and switch. Of course it is is their service and their rules, but again the point is made how dishonest they themselves are being about it.

That and as was stated before, they've known about this for a long time and were perfectly fine with it. They're hurting for other reasons....not sharing.

 

[Manatlt]

Also, not sure what Netflix may or may not have done in the past is relevant to what's true now. Their service. Their rules.

How about my money. My rules.

I'll unsubscribe and look elsewhere. Hopefully many others will do the same.

 

[usagora]

How about my money. My rules.

I'll unsubscribe and look elsewhere. Hopefully many others will do the same.

Of course. Did you think I was telling people they had to use Netflix? LOL! You're doing the honest thing by looking elsewhere if you don't like their pricing and/or policies instead of intentionally violating those policies. You're not asking a friend for their password so you can freeload (read: steal) Netflix service without paying.

 

[TracerAnalog]

1. Covid’s over… for now
2. Some new and real competition
3. ‘Spensive
4. Account sharing
5. Content

Take your pick and sort at will ?

 

[Manatlt]

Of course. Did you think I was telling people they had to use Netflix? LOL! You're doing the honest thing by looking elsewhere if you don't like their pricing and/or policies instead of intentionally violating those policies. You're not asking a friend for their password so you can freeload (read: steal) Netflix service without paying.

The funny thing is, I don't mind continuing paying Netflix if their pricing is reasonable. But I'm not paying £15.99 (so I can watch the content in 4K FFS) + £5 (or whatever cost for the household charge) just to have my son and daughter in university watch Netflix.

Absolutely bollocks.

 

[usagora]

The funny thing is, I don't mind continuing paying Netflix if their pricing is reasonable. But I'm not paying £15.99 (so I can watch the content in 4K FFS) + £5 (or whatever cost for the household charge) just to have my son and daughter in university watch Netflix.

Absolutely bollocks.

Then I assume you're looking for alternative streaming services that fit your budget or tell your children to pay for their own accounts if they want Netflix so badly. It's nice that we have choices. My issue is with people who say "I don't like the pricing, so I'm going to cheat to use their service anyway without paying".

 

[noone]

We only watch anything on Netflix because we share the account with my MIL and SIL. And they only have it because it's free/cheap with T-Moblie.

I never find much on there worth watching, let alone for the prices they're charging. The fact that 4k costs extra is just absurd.

 

[BaracksPhallusPalace]

Its chock full of garbage. That’s why I fired them.

Disney+ is the only service which actually delivers value.

HBO Max is better if you don't care for marvel or re-watching old pixar and starwars movies for the 100th time.

 

[Danfango]

HBO Max is better if you don't care for marvel or re-watching old pixar and starwars movies for the 100th time.

HBO Max probably is, if it existed here.

 

[Ethosik]

I just can’t stand streaming in general. I would rather prefer to buy the content on iTunes download it and watch it. No matter how hard I try with Spectrum, $150+ modems, $500+ routers, rewriting the entire house, etc, I just can’t get good quality streams. It consistently drops from even HD quality let alone 4K. Same on other streaming services so it’s not just Netflix. Yet I can download from sites, Steam, and iTunes up to 100 MB/s (I have gigabit internet from Spectrum). It’s so frustrating.

 

[Spike1999]

It was inevitable, when it launched it was only against Hulu, now there are tons of streaming services in USA alone.

 

[ritmomundo]

Honestly, it's probably because of TikTok. TikTok is a social entertainment app. It's addicting, informative, educational, funny, and interesting. The new way forward is 3-10 minute, vertical video, mini series shows. JUST SAYIN

So.. Quibi? We know how that went down. ?

 

[zoomp]

I was paying for Netflix (HD not the 4k) the same as Disney+Star+Appletv+Mubi+Paramount+Amazon together (all of them in 4k). So, it was a pretty easy decision.

 

[bluespark]

Content is still better than anything on Apple TV+.

With that said, yes, indiscriminate price increases are more to blame.

This is very much a matter of opinion. Personally, I’m currently watching each of Apple TV+, Paramount +, and HBO Max more that I watch Netflix. If we had to cut one paid streaming service, it very well might be Netflix.

 

[bluecoast]

Quality > quantity ...Netflix has chosen ''quantity'' path for years. As much as they have helped me watching foreign productions like the Korean series Kingdom pretty much most content is trash. Also they are not alone anymore.

Agreed. 5 or so years ago, a Netfix original was a badge of quality.

Nowadays, it could be great/good - or it could be like the sort of thing that Discovery churns out.

Also: Adam Sandler Netflix original movies.

I think to try and be something to everyone, they have diluted their quality.

 

[rillrill]

only reason I keep netflix is I get it for cheap thanks to my tmobile family plan.

Me too. BUT. If they start trying to charge who streams, because my family doesn’t all live in the same house, then I’ll cancel it. Hostile business practices won’t get my money.

 

[Open-Source-Norange]

As a Stone Ocean fan, I find this development cathartic.

I will parrot what everyone else has said about the lack of quality content and price hiking, but I will put in my two cent and say this is also a byproduct of the streaming service deluge we have nowadays. Back then, Netflix could rest on its laurels because it was the only big and reliable content streaming service. But in 2022, there are hundreds to thousands of streaming services that have pushed it off its stand and the only response the company has to this is to try to milk their users more.

It's a classic fall of the prideful, in my opinion.

 

[Stunning_Sense4712]

I wonder how many customers Netflix will lose before they add more popular content or lower their price plans?

 

[iDento]

Honestly, it's probably because of TikTok. TikTok is a social entertainment app. It's addicting, informative, educational, funny, and interesting. The new way forward is 3-10 minute, vertical video, mini series shows. JUST SAYIN

Sarcasm?? Right?

 

[ghanwani]

What does this mean for Apple TV+?

I think it was a mistake for Apple to get into the business of content creation.

If $AAPL shakes out, the indexes are going to get pummeled.