Netflix is already struggling to increase its subscriber base and a recent report by Reviews is hinting that 25 percent of Netflix subscribers are planning on leaving the service entirely.
Netflix hasn¡¯t been having a great year, despite some really successful releases including Stranger Things Season 4. It has lost around 1.2 million subscribers in the first two quarters of this year.
As per the report, which surveyed 1,000 Americans to gauge their streaming habits in 2022, the average American is subscribed to four platforms. Netflix is still the most popular with around four out of five individuals subscribed to it, and 70 percent also use it the most, followed, by HBO Max which is at 9.91 percent, Disney+ at 6.18 percent, Peacock at 4.25 percent, Hulu at 3.86 percent, AppleTV+ at 2.70 percent and Paramount+ at 2.70 percent.?
Despite this lead, Netflix subscribers are planning to cancel their subscriptions. Of those willing to cancel their packs, two-thirds are blaming the rise in pricing to be one of the major reasons behind this.
The report highlights that Netflix has the highest average plan cost among the existing streaming services in the US. Moreover, one in three respondents complains that Netflix doesn't have shows they want to watch, whereas 30 percent have said that they prefer using another streaming service over this.?
It¡¯ll be interesting to see how Netflix tries to maintain its stance in the US market, especially with a new more affordable ad-based tier coming to the platform soon.
Do you think Netflix will be able to recover from its fall? Tell us in the comments below.
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