Netflix isn't in a good place right now. The company lost 200,000 subscribers in the first quarter of 2022 — the first time Netflix saw subscribers drop in more than 10 years. However, it's not too surprising given the recent price hikes and the threat of a password-sharing crackdown looming over subscribers.
New projections show that the streaming service could lose as many as 2 million subscribers in the second quarter. We at Android Central want to know if you're among those that plan to leave Netflix.
Netflix recently raised its prices in both the U.S. and Canada by as much as $2 per month, depending on your plan. That brings the basic plan up to $10 per month, which is more than other streaming services like Disney+. However, if you want HD or 4K content, you'll have to spend up to $20 per month on your subscription. Meanwhile, HBO Max managed to add 3 million subscribers (combined with HBO) following the launch of its cheaper ad-supported tier on the best streaming devices.
Netflix recently suggested that it's looking into launching a cheaper ad-supported tier as well, something the company has been pretty adamant about not introducing to the platform. However, given the subscriber loss, it makes sense that it would want to lure customers back with cheaper options. However, it's not clear if such a strategy would work, especially if Netflix keeps canceling our favorite shows.
Netflix just cancelled Archive 81. I will be cancelling Netflix, effective immediately.March 24, 2022
That said, Netflix has also been testing a way to charge extra to share passwords, a widespread practice that many users rely on to share the cost of the rising subscription prices. Netflix apparently blames its subscriber loss on password-sharing, estimating that as many as 100 million households share their passwords with others. However, if Netflix goes through with its plans, the move could potentially push subscribers even further away from the platform.
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Derrek is a long-time Nokia and LG fanboy who loves astronomy, videography, and sci-fi movies. When he's not working, he's most likely working out or smoldering at the camera.