Thanks to Stranger Things, Netflix keeps losing subscribers

Thanks to Stranger Things, Netflix keeps losing subscribers

From the movie Stranger Things.

In April, the company announced that it had fewer users in the first quarter of this year for the first time since 2011. For the second quarter, Netflix then reported a loss of another two million subscribers. On the New York Stock Exchange, Tuesday night’s number was interpreted positively. Netflix’s share is up slightly, although it’s still the worst performer on the S&P 500 this year.

Netflix currently has 220.7 million subscribers worldwide. The company believes that the bottom has been reached for the time being. In the summer period, the streaming service expects to gain 1 million subscribers again.

According to experts, the decrease in the number of subscribers is partly due to the high prices of the platform. As a result, some people may find their Netflix subscription too expensive. Netflix faces stiff competition. Web retailer Amazon and entertainment giant Walt Disney have been working on their own streaming services for some time now.

By creating new seasons of popular series, Netflix hopes to entice people to stay as a customer for longer or return to the platform. So the fact that the drop in subscribers was limited in the last quarter is mainly due to the new season Weird thingsWhich many people wanted to see.

Additionally, Netflix is ​​still able to grow in Asia Pacific. In this way, the company has partially compensated for the loss of customers in Europe and the United States in recent months.

Leave a Reply

Your email address will not be published. Required fields are marked *