Long term, Netflix has to either be absorbed or absorb other services. I don’t think they have the leverage for the latter.
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Netflix Loses Subscribers for the First Time in 10 Years, Blames Account Sharing
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More competitors. Less library of material. Over-reliance on their own content, instead of the content of other producers. Price hikes. Confusing plans with price points that make zero sense. The list goes on and on...
Maybe they should get rid of all those different lame subscription models and just offer one like Disney+, $7.99 a month and 4 4K simultaneous streams.
Most of this site is like this. Just a bunch of angry Apple users.
Out of interest, had a look at the price increase. Yes, I did select the Premium as my TV plays 4K and DV.
Aug 2018 - €13,99 (joined)
May 2019 - €15,99
May 2020 - €15,99
May 2021 - €17,99
May 2022 - € ???
Aug 2018 - €13,99 (joined)
May 2019 - €15,99
May 2020 - €15,99
May 2021 - €17,99
May 2022 - € ???
Let's just say a 25% after hours drop is pretty big. I have a wee bit of their stock, but just riding for fun. Their dominance of streaming has ended. Hopefully they learn from this. If I had some spare cash I might buy a bit of stock in the morning.
This business of trying to figure out what constitutes a "household" is ridiculous. In my view, my household includes my wife and our three adult children that live in various parts of the country. One is an undergrad. One is a grad student. One is working but will start his Phd in the fall. There are five of us, and to my mind, I pay for up to four concurrent users. If Netflix wants to increase rates to reflect the reality of concurrent users rather than this weird notion of "households" in the highly mobile 21st century, that's fine. I can review those rates vs competitors. Then, I will have a decision to make.
If Netflix wasn't included with our phone plans we would without a doubt NOT have netflix. It's so much like the big wire bin of DVDs at walmart in the mid 2000s. A few decent things in there, but 90% straight to dvd crap nobody wants to watch.
The problem is that Netflix doesn't have many properties that would make that a sound move. They are ending stranger things, they cancel shows after one season and they have the mantra of quantity over quality. They do get good foreign shows but even that will end when they become too expensive due to competition. Netflix was the middle man who brought many shows to one place but didn't create them. Now that the creators are in the market Netflix is left out of the loop. They would not be a good stock investment in the long run.
Netflix lost subscribers for the first time in more than a decade in Q1 2022, according to subscriber numbers the company said during today's earnings results. Netflix is down more than 200,000 subscribers, and the losses are set to continue.
Netflix was expecting to add 2.5 million subscribers in the first quarter of 2022, but did not hit that target. The suspension of its business in Russia cost it 700,000 subscribers, and without that loss, Netflix would have added 500,000 paid global users, which is still well below its projections.
In the United States and Canada, Netflix lost 600,000 customers, due to recent pricing changes. Netflix said this subscriber loss was anticipated and in line with expectations.
In a letter to shareholders [PDF], Netflix said that revenue growth has "slowed considerably," with the company faulting "a large number of households sharing accounts" and "competition" as reasons for the drop off. Netflix estimates that its 222 million paying households are sharing with an additional 100 million households that are not being monetized.
Going forward, Netflix said that it plans to implement "more effective monetization of multi-household sharing," which suggests that Netflix will soon enact measures to prevent account sharing. Netflix in March began testing an extra payment for those who share their Netflix accounts with people outside their households.
In Netflix's current test markets of Chile, Costa Rica, and Peru, customers can pay an extra fee to share their accounts with two people outside of their household. When the test was launched, Netflix said that it was working to "understand the utility of these two features" before making changes in other countries.
Netflix has always included wording in its terms and services that prevents account usage across multiple households, but until now, the service has ignored password sharing. Netflix also recently enacted new price hikes, and a 4K streaming plan is priced at $20 per month.
It's worth noting that Netflix is the only streaming service that charges by streaming quality. In the U.S., Netflix charges $9.99 for the Basic no-HD plan that allows for streaming on a single device, $15.49 for a Standard HD plan that allows for two people to watch at the same time, and $19.99 for a Premium plan with Ultra HD streaming and support for four simultaneous viewers.
In the second quarter of 2022, Netflix is anticipating losing two million paid subscribers. To mitigate the continued losses, Netflix co-CEO Reed Hastings said that in addition to addressing password sharing, the company is considering a more affordable, ad-supported plan within a year or two.
Article Link: Netflix Loses Subscribers for the First Time in 10 Years, Blames Account Sharing
Uh. Yeah no. How about we are leaving because the content sucks. Squid game was a good watch, but otherwise every time I login in, there’s nothing exciting to watch, just some blah shows. I used to love Netflix. Good Sci fi. Great cooking shows. Chefs Table. David Changs stuff. But now - no new episodes. So much better content on Apple TV and Prime of recent. Funny how companies never see the real problem.
Hey bud - TikTok is about to be the largest social media on the planet, better wake up
Not true. People are tired of scripted predictable series. This is real people. The talent and creativity out there is unreal.
Or you can look at it in another way -- absorbing tiny bits of information at massive levels may actually help us as a species. There are plenty of people who have discovered a whole range of topics from TikTok than 12 years of schooling. Not kidding
Couldn't be the frequent price increases, the lack of any content worth the current price...its just the damn customers. They're the problem.
HobeSoundDarryl
macrumors G5
Yes, the bigger point there was that piracy is really not the answer and would have terrible ramifications if the masses did go that way. Some pirates seem to operate with a mentality of "they deserve it" for their greed, etc. but it would very much be the Aesop fable "Goose that laid the golden egg". Villagers kill the goose to "get all of the gold right now" only to learn a valuable lesson instead.
Netflix is trash, drop it like a bad habit!
Let them taste that account sharing nectar. I think it's the worst mainstream streaming service at the moment especially from a value proposition perspective.
Let them taste that account sharing nectar. I think it's the worst mainstream streaming service at the moment especially from a value proposition perspective.
Exactly.
Ridiculous, and frequent, price hikes + a massive library that’s 98% garbage, is likely where I’d start pointing fingers Netflix. Not at users.
As all the studios pull their content into their own platforms, Netflix is left with nothing to offer but their originals. And they don’t have the quality, history or franchise recognition to make that worth anything.
Netflix killed Blockbuster. But now Netflix is Blockbuster…
Netflix killed Blockbuster. But now Netflix is Blockbuster…
Of course it *must* be your customers. I couldn't possibly be the constant rate hikes and catalog that's now 90% total **** to wade through, combined with way too many other subscriptions services? Go back to a reasonable price and quality content and see what happens.
Learn from it or not, they are done. The decline will continue.