(UnitedReader.com) – It appears streaming services are having a bit of financial trouble as of late. It’s not just Disney+ and Amazon Prime suffering; even the streaming giant Netflix appears to be collapsing. Of course, the service only has itself to blame as it continues to bleed customers. The company has already lost a large sum of subscribers and expects to lose many more.
Netflix Loses 200,000 Subscribers in Q1 https://t.co/kUKoGzTYE0
— Variety (@Variety) April 19, 2022
Netflix told its investors, many of whom are undoubtedly worried as the company’s stock prices are plummeting, that password sharing is the problem. The streaming giant is referring to people giving usernames and passwords to others outside of their households. Netflix has even begun tinkering with the idea of charging these people fees as punishment. The company also blamed increasing competition among Amazon Prime and Disney+.
However, it never once mentioned its own price hike, increasing the current $17.99/month subscription for premium service to $19.99/month. Netflix also never mentioned how many of its users are feeling increasingly isolated due to the company’s incessant need to please the progressive Left.
The company took a serious hit in the first quarter, losing 200,000 subscribers according to Breitbart, especially after expecting to gain 2.5 million. However, the figure pales in comparison to the additional 2 million subscribers Netflix projects to lose in the next quarter. Perhaps the streaming company should consider looking inward rather than placing the blame on its customers.
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