Netflix is an American company that came into existence on august 27, 1997. It offers drama films series etc. It has made a lot of subscribers due to quality content for its subscribers. But the scribers are losing their membership day by day. For example, it lost its 1 million subscribers in the second quarter of this year. It looks like it will lose its 2 million subscribers by the end of this year. In this article, we will discuss some reasons that led the masses to step back from the subscription of such a famous and notable application. Let’s have a look at why Netflix is losing its subscribers.
Netflix Pulled Its Service From Russia
The American president once said War is the health of the state. As Russia invaded Ukraine due to some political issues in the world, western countries put sanctions upon the Russians to stop the bear from further invasion. These sanctions also include not providing facilities in Russia. There is a report that there were 70000 unsubscribers of Netflix in the world. Ukraine is facing an export problem due to the invasion of Russian troops on its seaports. People unsubscribed their accounts to pay for the prices of food which are increasing in the war-stricken country.
Netflix Hiked Up Prices in US and Canada
The world is indeed facing a layer of inflation. Keeping themselves safe to pay for food, people decided to reduce expenditures. So, Netflix decided to increase its subscription in the United States and Canada. Netflix claims 60000 unsubscriptions from North America.
Netflix Keeps Losing Content From Media Companies
Netflix has lost tons of its content from several famous networks across the US. Most of the programs have decided to move to some other streaming platforms. HBO and Discovery are the companies that decided to launch their streaming services and push content through new outlets made by themselves. This reason pushes to produce its content. The content on Netflix is indeed excellent in quality. But people have their likes and choices. This change of content also became one of the reasons for increasing unsubscribers in the world.
There Are Too Many Streaming Services
One of the reasons for the unsubscription of Netflix is the introduction of new streaming services. Amazon prime, Paramount +, and Apple Tv are some of them. When other streaming services are providing the same quality and quantity of content at lower prices, why do people have to stay with the expensive subscription?