Netflix’s password-sharing crackdown won’t do much to put the streamer back on the growth track
earlier this year, and with inflation at a 40-year high and a recession all but certainly on the horizon, it’s worth considering how many subscribers would balk at another monthly fee increase.noted that Netflix’s January price hike had a significant effect on subscriptions, with the higher cost cited as the reason for 15 percent of Q1 cancellations and nearly 30 percent of planned Q2 cancellations.
Going by Netflix’s forecast that it will lose another 2 million subscribers in Q2, that’s nearly 600,000 people who currently don’t think the service is worth the price they’re paying. Until recently, Netflix steadily raised the cost of subscriptions while growing its customer base at the same time. Now it’s clear the game has changed. Streaming viewers are growing more cost-conscious, evinced by the growing rate of churn among subscribers and the slowdown in new sign-ups overall. Kantar’s report indicated new streaming subscriptions have stalled in the U.S. and the number of services each household subscribes to has leveled off.
Netflix must also be hoping that some of those freeloaders can be converted into full-paying subscribers, but if this picture is accurate, those hopes look naive at best and delusional at worst.
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