For the first time in 10 years, there was a strong drop in Netflix’s subscribers, the company told the big reason for password sharing
Image Credit source: File photo
The beginning of this year has not been very good for Netflix. The company has lost more than 200,000 lakh users for the first time in 10 years. The company has given 3 big reasons behind this.
netflix (Netflix) The world’s most popular content streaming OTT platform. Most people prefer to use Netflix to watch movies or web series. Netflix’s userbase in the Corona period (Netflix Subscription) has grown the most. The company had achieved its highest growth in that time. But, the beginning of this year has not been very good for Netflix. In fact, the US-based content streaming platform has reported in a recent report that it has achieved nearly 200,000 users in the first quarter of 2022 and more than 2 million users in the third quarter. (Netflix Users) is lost to.
The company has also suffered heavy losses due to the ongoing war between Ukraine and Russia. The company had suspended its services in the room some time back. Because of which it lost more than 700,000 users. The company has also told the reason for this loss to the password sharing between the users. Due to which there has not been much growth in its paid subscription. Apart from this, Disney+ Hotstar in the market (Disney+Hotstar)handjob prime video (Amazon Price Video) Like other OTT platforms also the company has been facing strong competition.
Netflix shares fell sharply
According to the information, the stock in Netflix fell by 26 percent, after which its share market price was reduced by about $ 40 billion (about Rs 3,05,320 crore). The company lost about 600,000 users in the US and Canada. In January, the company released its first monthly subscription growth report in two years. In which the company said that it is facing many challenges to maintain its current base. According to the information given in the report, 222 million users worldwide have a Netflix subscription. In addition, more than 100 million users share their accounts with each other.
The company believes that due to more account sharing, it is also facing a lot of loss. To attract users, the company had also reduced the prices of its monthly plan in many countries. At the same time, in order to increase the income, Netflix had increased the price of its subscription plan in some countries. But the company suffered due to this.