Netflix is one of the most popular streaming services out there, and for good reason. They have a wide variety of titles to choose from, they always have new seasons of your favorite TV shows available, and their customer service is excellent. However, Netflix’s long-term subscribers are canceling their subscriptions in droves.
Netflix canceling shows
Netflix subscribers are canceling their subscriptions in droves. The streaming service is hemorrhaging viewers, and it’s not just a recent phenomenon. Back in January, Forbes reported that Netflix’s subscriber base had shrunk by 1 million people in the previous quarter.
Netflix has struggling to keep up with the competition for years now. In fact, back in 2013, Netflix’s Chief Content Officer Ted Sarandos admitted that they were “still learning how to make great TV.”
That was three years ago, and the company has still not mastered the art of television. In February, Business Insider released a report stating that Netflix is planning to cancel more than 100 original series over the next two years.
Netflix has always been known for its hit series like “House of Cards” and “Orange is the New Black,” but cancellations aren’t just hurting those shows. Cancellations are also hurting other Netflix Originals like “Stranger Things,” “The Crown,” and “ Narcos.”
Netflix is hoping that some of these new shows will be successful enough to save the originals from cancellation, but so far
High Netflix Subscription prices
Netflix is in trouble. The company’s stock has been dropping since the beginning of the year and its subscriber base is shrinking. In January, Netflix announced that it had lost 1.5 million subscribers in the fourth quarter of 2017.
Netflix has always been a bit pricey compared to other streaming services, but lately, their prices have increased even more. For example, the basic plan for Netflix now costs $10.99 per month, which is up from $8.99 per month only a few years ago. Additionally, the monthly price for the premium plan has also increased from $13.99 per month to $15.99 per month.
Netflix’s high prices are definitely causing some people to cancel their subscriptions. According to an article on Forbes, “the percentage of Netflix subscribers who have canceled their subscription in the past 12 months totals about 5 percent” (Ferguson). This number is actually smaller than it was a few years ago, but it’s still an issue for Netflix because these people are not renewing their subscriptions and they are not helping to keep their viewership high. In addition, this change in viewership could lead to lower advertising revenue because people who are not subscribing
Netflix suspended its services in Russia
Netflix suspended its services in Russia on October 1st, leaving millions of users without access to the popular streaming service. The ban was put into place after the company was unable to negotiate a licensing deal with the Russian government.
The suspension of services has had a significant impact on Netflix subscribers in Russia. According to analytics firm Slice Intelligence, the number of Netflix subscribers in Russia has decreased by 33% since the ban went into effect. Some customers have even decided to cancel their subscriptions altogether, fearing that they will not be able to continue using the service if it is not available in their country.
Ad-supported cheaper Netflix Subscription
Netflix’s long-term subscribers are canceling their Netflix subscription in droves. In fact, according to a report by The Wall Street Journal, the percentage of Netflix subscribers who have canceled their subscriptions within the past three months has reached a record high. This is likely due to the increase in ad-supported cheaper subscriptions that are available to consumers.
Netflix CEO Reed Hastings recently admitted that ad-supported cheaper subscriptions are “killing” the company’s business. He stated that this is because people are not paying for the full experience of Netflix, and are instead only using it for its streaming capabilities. This is why Netflix is now offering a new package called “Netflix Standard” which does not include ads and costs $7.99 per month. However, this new package may not be enough to stop the tide of cancellations from happening.
Netflix has tried to counter this by increasing its original content offerings, but it seems that this is not enough to keep people subscribed. In fact, according to The Wall Street Journal, the number of subscribers who have canceled their subscriptions within the past three months has increased by more than 5 million since January 2018. It seems that even though Netflix offers