OUR Netflix released its latest financial report for the quarter valid from January to March 2022, in which lost 200k subscribers over a three-month period, marking the first time the streaming service has failed to increase its subscriber count in more than a decade.

The company also said it expects to lose about 2 million subscriptions in the current quarter, including April, May and June. The company cites several reasons for the loss of customers, including high inflation, the war in Ukraine, the emergence of new companies in the streaming segment, as well as a large number of people using passwords from other families.

In a letter to shareholders, the company says:

“Our revenue growth has slowed significantly, as our results and projections below show. Streaming beats linear as we predicted, and Netflix titles are very popular all over the world. However, our relatively high household penetration, including a large number of households with shared accounts, coupled with competition creates barriers to income growth.”

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The company estimates that more than 100 million households use passwords from other families, of which 30 million are in Canada and the United States alone, and in Netflix is already prioritizing finding the best way to monetize.

The news that the world’s most famous streaming service has lost its subscribers shocked even the stock market. Netflix fell by 24%, and this even affected other services in the segment, Disney+ even lost 4% in share price.

Do you believe that Netflix keep losing subscribers? Share your opinion in the comments!

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Via: Eurogamer