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

The only reason I have Netflix is that I have a TM wireless account that offers for free. And Prime Video because of Prime. If not, I would never subscribe to both services. Very weak overall.
 
I gave up Netflix years ago. I have Disney but don't really use it that much. I have found that creating my own server with movies and shows I know I will enjoy time and time again is a much better route.

I think Netflix's problem is the price and content selection for many people.
 
WiseAJ said:
I barely watch anything on Netflix anymore. A complete waste of my money and they keep making it more expensive while at the same time delivering less quality shows etc. TV+ on the other hand is a steal at only $5 a month.
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Man, I give you that Netflix has A LOT of filler shows, but can you honestly compare Netflix's Top 10 to Apple's Top 10? No way! I still find more entertaining and interesting content on Netflix than I do on Apple, Ted Lasso and The Morning Show along just does not cut it.
 
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I wouldn’t mind the price increase alongside excellent content availability. Unfortunately, that’s just not the case.

Netflix is getting too comfortable. Instead of developing good content, they took the mindset that their customers are too loyal to leave because they’re the household name. It blew up in their face and they refuse to admit it. Persisting with that attitude never works well.
 
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stellaclose said:
So the recent price hike had nothing to do with it...it was all the password sharing. Yeah, right.
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I'm increasing watching :apple:TV+ and my internet provider's own PikTV service since I can rarely find something new and engaging on Netflix (in Canada). So, yah, hard to justify paying for something that seems stalled in terms of great new content.
 
GeoStructural said:
Man, I give you that Netflix has A LOT of filler shows, but can you honestly compare Netflix's Top 10 to Apple's Top 10? No way! I still find more entertaining and interesting content on Netflix than I do on Apple, Ted Lasso and The Morning Show along just does not cut it.
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There's also regional differences that need to be factored in. The US catalog is very different from the Canada catalog for Netflix, but is equal for :apple:TV+.
 
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HobeSoundDarryl said:
If piracy ever becomes THE solution for the masses, that will kill the whole machine. It will certainly stick it to the "greedy and stupid" by destroying the whole industry. Thereafter, all original content would have YouTube video-type budgets and quality and the pirate masses will need to be happy with what was produced up to the point of the masses rebellion of 202X.

Analogous example: we're not wanting to pay Apple's "greedy" margin for the next iDevices or Macs. So let's just all steal them. That will show 'em... put them right in their place. And somehow Apple will be able to keep making new models year after year for no income that we can all steal too.

The piracy option only "works" while the numbers of pirates are small. If that becomes the masses "I'll show 'em" option, that's the end of new professionally-produced movies & TV content and the best new video will be YouTube quality made mostly by volunteers working for nothing-to-near-nothing in all of the professional roles of production.
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If the entire Hollywood media complex collapsed tomorrow it would be a net positive.
 
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My number one reason for not using Netflix is crap quality. Their own speed test tool has me at 100Mbps which is more than enough for 4K streaming yet their capacity to delivery promised quality is just not there. Any 4K YouTube video is 10 times better quality than Netflix's highly compressed - jumping resolution mess. I swear most of the time I feel like I'm watching SD on the premium plan (which will remain canceled until Stranger Things new season is on).
 
Netflix content just isn't that great, and all my favorite shows are no longer on the service. I dont really have any reason to keep it. BYE
 
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I blame their low amount of 3rd party content and low base quality. Not worth the pricing.

We canceled our subscription this quarter. Hulu, listen up or you're next on my list.

I suggest using CheapCharts to buy your favorite movies and tv shows when they are on sale. It's cheaper and much higher quality in the long run. Never pay for streaming again
 
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I cancelled recently because the monthly bill made no sense for something that I was barely even using anymore. Simple as that.
 
Danfango said:
Its chock full of garbage. That’s why I fired them.

Disney+ is the only service which actually delivers value.
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Disney+ is by far the worst!! A bunch of absolutely PLAYED super hero crap and a bunch of classic stuff that you only want two watch once every 5-10 years. It's only popular because terrible parents like to plop their kids in front of it for hours on end rather than actually spend time with them.
 
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We canceled about a year or more ago after subscribing for many years. I know a LOT of people who have canceled in the past 6-12 months and many more who are planning on it. In my opinion -- and what many people have told me -- the service is just not interesting. It seems like people are choosing to sub mostly to a combo of Disney+ and Hulu, and some ATV+. And almost all those same people already watch Prime Video since it's incl. w/ their Prime sub.

IMO, Netflix truly sucks.
 
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madrigal77 said:
Disney+ is by far the worst!! A bunch of absolutely PLAYED super hero crap and a bunch of classic stuff that you only want two watch once every 5-10 years. It's only popular because terrible parents like to plop their kids in front of it for hours on end rather than actually spend time with them.
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Terrible parents have been plopping their kids down in front of TV, VCRs, DVDs, and gaming consoles for years, and well before the Internet or streaming were a thing.
 
roar08 said:
Terrible parents have been plopping their kids down in front of TV, VCRs, DVDs, and gaming consoles for years, and well before the Internet or streaming were a thing.
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True, but Disney+ is the ideal abandon you kid in front of the TV service.
 
Netflix is worth it's weight in gold, where else can I watch all the direct to video Steven Seagal movies?
 
HobeSoundDarryl said:
What's missing from this version of the story: revenue improved vs. same quarter 1 year ago but fell short of expectations.

Keep in mind too that they suspended operations in Russia which resulted in a loss of 700K paid net additions. Had there been no war-driven action there, they would have added about 500K subscribers in this quarter.

Much like Apple releasing better revenue numbers than expected but then the stock taking a hit, it's expectations that is mostly driving this. The bad news on that front is Netflix expecting to lose about 2M more subscribers this quarter. However, for the next quarter, they are expecting to again (revenue) beat the same quarter from a year ago even with fewer subscribers. How do you do that? One way is the added revenue from price hikes makes a modestly smaller number of subscribers yield more revenue.

So while we will beat them down in this thread, the net result is they are actually making MORE money from modestly fewer subscribers AND taking the stance of actually cutting off certain revenue from Russia. They similarly expect to make MORE money next quarter than year ago too but their projection is not as high as Wall Street would like (sound familiar?) so the stock is taking a pounding today.

Basically "Netflix is doomed! Netflix is doomed!" with about $8 Billion/quarter, 222 MILLION subscribers and their belief that 100 MILLION households are "sharing" access from someone else without paying for it. If that number is real and they cut off up to 100 MILLION people and/or do what they are doing with an extra fee to share with another household in some test countries, what is likely to happen to paying subscriber counts? They add a bunch of new revenue from the people who are not paying for it now... certainly not 100M but it won't take many having to actually pay for the service to completely cover this modest loss of subscribers PLUS the expected 2M. This whole thing is about a fraction of 1% of the whole business.

No particular sympathy for Netflix or anything- just adding some information that might paint a different picture than the simplistic: price hike = devastation... quality of content = devastation.
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Agreed, but a trending negative slope on the sub growth KPI won't go well. And the street will decide how to define devastation at that point.
 
nutmac said:
I am pretty sure raising the price is related to more accounts being shared.

Stop raising the price and include 4K on all 3 pricing plans.
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At least make the $9.99 single screen tier 1080p! Who wants 480p crap for $10/mo? I think many would sign up for that and no password sharing with the single screen plan!
 
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MacFan782040 said:
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
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Perfect. Humanity has digressed to the attention span of a squirrel.
 
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