Anyone who knows me, knows that I have a special place in my heart for Netflix, but recently they have been fumbling the bag hard. They have lost a total of 221.64 million subscribers and expect to lose another 2 million subscribers soon.
Part of these numbers come from the loss in Russia, where they cut services in that country for obvious reasons (the war with Ukraine), but most of that loss comes from a series of terrible choices from Netflix. One of those choices being cracking down on password sharing, saying “They love the service, we’ve just gotta get paid.” It’s ironic how that choice led to a step backwards in that goal.
Another choice that’s bad for ANY streaming company, is adding ads into the company’s equation. Netflix, bro, explain yourself. I kinda get the password sharing thing but ads, my guy? Not cool at ALL. This coupled with the fact that streaming has become so popular it has resulted in the turmoil they are currently in. Due to networks creating streaming services of their own, Netflix’s catalog has taken a massive hit, as big TV and movie companies take their property off Netflix to put on their own streaming service.
Netflix does have a saving grace, their original works have done exceptionally well and it’s my personal favorite thing about the streaming service. I think overall Netflix will be fine. It’s not gonna turn into the next Blockbuster or anything, but if they keep fumbling like this, who knows.
By Gary Langfield Jr. Junior, The Noble Academy