According to surveys, Netflix is losing more and more subscribers who have stayed with the service for more than three years.
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Netflix keeps losing subscribers.
©Netflix
More and more long-term subscribers are canceling their Netflix subscription. This is shown by survey data obtained by The Information magazine. 13 percent of the subscriptions canceled in the first quarter of 2022 belonged to long-term customers who had previously remained loyal to the service for more than three years.
More long-term subscriptions will be cancelled
The Information got its data from analytics company Antenna. The company collects its data from five million Americans who anonymously share their streaming subscriptions. In the first quarter of 2022 alone, Netflix canceled 3.6 million subscriptions – a significant increase from the 2.5 million in the last five quarters. The proportion of long-term subscribers who canceled their subscription also increased to 13 percent. However, at 70 percent, the majority of cancellations are made by subscribers who have been with us for less than twelve months. In the second quarter, the company expects around two million more layoffs.
Live streaming and advertising subscription as countermeasures
There are several reasons for the decline in users. Netflix, for example, increased prices in several countries and lost around a million subscriptions due to the termination of the service in Russia. Things could change at Netflix over the next year, with the service said to be stepping up action against subscription sharing and possibly introducing a cheaper ad-supported plan. Live streaming formats are also under discussion.
