Netflix used to be the biggest name in streaming, but with recent changes, the service’s domination of the industry might be coming to an end.
For the first time in a decade, Netflix lost subscribers. The streaming service shed over 200,000 subscribers in the first quarter of 2022 and projections estimate they could lose 2 million more in the second quarter. But with all the changes Netflix has implemented and announced in the last year, it’s no surprise people are finally dumping the service.
One of the most shocking recent announcements was that Netflix had a plan to stop password sharing and had begun implementing it. They plan to start charging a fee every month for multiple houses using the same account. A lot is still unknown about how exactly this will work, but I know enough to say confidently it’s a terrible idea.
A Time2Play survey suggested about 80% of Americans who share an account with someone else wouldn’t get their own account if password sharing was removed. So what is Netflix’s solution to this? Add ads to their platform.
Co-CEO of Netflix, Reed Hastings, has said for years that Netflix wouldn’t use ads and was a superior service because of it. So, in a hypocritical move, Hastings announced that they would implement a cheaper, ad-supported plan.
Netflix has also been steadily increasing their prices with no real justification. It would be one thing to increase the price as the service expanded its impressive catalog, and this was the case for a while, but lately Netflix has lost so many big shows it’s hard to justify new prices.
With shows like “The Office” leaving as well as all Disney owned titles and any other titles owned by companies launching their own services, Netflix must rely even more on their originals. And let’s be honest, they’re mediocre.
Once in a while, they get a huge hit like “Tiger King” or “Squid Game” but for every one of these hits there’s a hundred failures. Plus, many of these huge shows like “Stranger Things” or “Queen’s Gambit” are one-offs or coming to a finale soon.
Now Netflix is overpriced, has commercials and lacks quality content. Netflix has finally become cable. It’s unfortunate the streaming service went full circle and became the problem it was meant to be the solution to, but hopefully these big subscriber losses motivate them to fix these issues.
Tracy Mullinax can be reached at [email protected]