Is this the end of Netflix? Past 3 months reports about netflix.

Netflix lost around 200,000 subscribers in 3 months from January to March.

They reported this huge drop for the first time since 2011.The total number of subscribers on this OTT platform is 221.6 million.

What are the various reasons for Netflix-OTT to lose its subscribers?

Netflix shares are down 35%, according to the BBC, as it revealed a sharp drop in subscribers and warned that millions are set to leave the streaming service. $50bn wipes out its value as subscribers quit.

Reason 1

The first reason is the increasing number. of sharing accounts among different households.

If one person buys a Netflix subscription (or any other OTT platform), with password sharing, his family and friends login with the same account.

As a result, no. of users are increasing, but no. of subscribers are not. It blames the competition and people using other people’s passwords

Revenue of the company is still growing at 9.8% but it’s way lower as compared to the first quarter of 2021 at 24%.

Reason 2

The second reason is the suspension of their services in Russia which took a heavy toll on their pockets.

They lost 700,000 subscribers there.

The other reasons affecting the growth of the company are- increasing inflation, successive corona waves and an increase in price in Canada and the US which cost them 600,000 subscribers.

The thing is Netflix could be losing it’s exclusivity.

Want to verify it?

Ask your parents which platform did they watch a particular movie on. Was it Net-Flix , Disney+Hotstar or Prime?

Is there any good news for Netflix?

Well, yeah.

The Asia Pacific region added around 1.9 million subscribers including India, Japan, the Philippines and Taiwan in the last quarter.

 

What is the current scenario in India?

Even amidst the fast-growing OTT market, Net-Flix is third in the race.

According to a research report, Hotstar and Amazon Prime got 46 and 22 million subscribers respectively.

Whereas Netflix have a subscriber base of 5.5 million.

What’s Netflix gonna do now?

The company made it clear they will not give up easily.

They’re planning to make their programming and recommendation quality better.

The company has already reduced their prices in India to strengthen its subscriber base in December 2021.

And now they’re also coming up with regional content to capture the diverse market like India.

This move will provide the company with a chance to stand in front of their competitors like Zee5, Alt Balaji and Hotstar.

There are some rumors as well that they’re willing to try ads based models to reduce the prices and to take some actions to prevent password sharing.

So this means that we can enjoy our favourite shows without worrying about Net-Flix to come to an end.