Netflix has been having a rough go of things lately. The subscriber boom that it experienced during the 2020/2021-era COVID shutdowns is now beginning to reverse.
Not only are subscribers down, but Netflix’s profits have also taken some hits. The company actually laid off certain workers purely for this reason alone.
Amid various struggles, the streaming company is taking various steps and considering other measures to avoid going completely under. One of these efforts involves cracking down on account-sharing that’s become a pretty widespread issue.
Despite the company hemorrhaging subscribers, Netflix has surpassed various anticipations, according to The Hill.
The Latest on Netflix’s Sustainability
This past April, Netflix shareholders believed the company would end up bleeding two million subscribers. Yet, the company’s earnings report from the last quarter shows a subscriber loss that’s just shy of one million.
After this report, Netflix also saw its stock increase; however, this doesn’t mean the streaming service is completely out of the woods by any means.
While doing better than anticipated in terms of subscribers, the company still has some real work to do before getting back to its previous state.
He said our Spider-Man trilogy is coming to Netflix on August 1! pic.twitter.com/EaRPNRp3uN
— Netflix (@netflix) July 19, 2022
As a means of remaining afloat, Netflix is working on putting together plans that allow for ads to be scattered in between content. However, this is something that’s received a lot of blowback on social media.
Many people who use Netflix like the fact the platform is free of ads. Some have even suggested they’ll cancel their subscriptions if they have to watch ads in between content.
Pushback Against Certain Content on Netflix
In recent years, Netflix has come under fire for various content on its platform. Many Americans can remember the backlash that followed after the release of the ‘Cuties’ movie.
Numerous people warned that just by Netflix allowing this content to stream on the site, it was having a role in child exploitation amid giving pedophiles material to enjoy.
Then, left-wingers expressed outrage over various content from comedian Dave Chapelle on the platform. Progressives especially claimed that letting Chapelle’s content stream was transphobic and unbecoming for the platform.
. @netflix will roll-out Ad supported low cost subscription plan from early 2023..
— Ramesh Bala (@rameshlaus) July 20, 2022
These various scandals and outrages have certainly played a role in subscriber losses as many Americans opt to watch movies and TV shows elsewhere.
At this point, the months ahead will determine whether or not Netflix is able to come back from various body blows it’s taken as a company.
In the meantime, Netflix continues to compete with other popular streaming services, such as HBO Max, Peacock, Hulu, etc.
What do you think about Netflix’s subscriber loss logged in its most recent quarterly earnings reports? Let us know if you think Netflix will be able to remain active as a popular streaming service.