It’s lost subscribers.
In the coming years, Netflix may offer lower-cost, ad-supported plans. During the company’s most recent earnings call, co-CEO Reed Hastings stated that the company is working on the offering and that it will finalize details “over the next year or two.”
The service lost approximately 200,000 subscribers in the first quarter of 2022, which it attributed to increased competition, the inability to expand in some territories due to technological limitations, and the annoyance of account sharing. In early March, it also lost 700,000 subscribers as a result of its decision to suspend service in Russia.
- At Minute Maid Park, the Houston Astros have added Amazon’s Just Walk Out Technology.
- Netflix’s new Shuffle button chooses what to watch for you – so you don’t waste time scrolling
To tackle account sharing, Netflix has tested a feature in Chile, Costa Rica and Peru that allowed subscribers to add two “sub-members,” who’ll get their own log-ins and profiles, for $3 — much less than the typical subscription cost. Netflix executives noted on its earning call that this model could expand to other countries. We’ve put our account-sharing parents and children on notice.
