Update on Netflix Subscribers amid Tight Competition
NETFLIX – The movie-streaming platform company lost nearly 1 million subscribers in the second quarter of 2022.
A lot of people are into watching movies. To many individuals, it is a stress reliever at the end of the day before bed or during weekends. In some cases, watching films is a bonding they enjoy with their loved ones. There are different genres of films including drama, fantasy, comedy, and horror.
Several years ago, you can only watch newly-released movies if you will watch them in cinemas or buy movie tapes. Somehow, these are more expensive ways of watching movies compared to what is usually happening now.
Nowadays, there are several movie-streaming platforms wherein people can subscribe and they can watch all the films that are streamed on the said platform. One of these platforms is Netflix.
Netflix leads the movie-streaming industry. It has more than 220 million subscribers which grew fast as years passed. Many people from different countries across the globe pay monthly or quarterly subscriptions to the company so they can continue to enjoy the films offered on the platform.
However, amid the tight competition in the movie-streaming industry and the emergence of several new film-streaming platforms, the subscribers of Netflix have dropped in numbers twice in a row. Based on a report on ABS-CBN News, the platform recently lost 970,000 paying customers in the second quarter of 2022.
In the first quarter of this year, the movie-streaming platform lost 200,000 paying customers. The total losses in the two successive quarters left the platform with some 221 million subscribers. Currently, it is working on ways to encourage more subscribers through more affordable subscription offers. It plans to work with giant software company Microsoft.
You may visit – Netflix To Work w/ Microsoft for More Affordable Streaming Plans