The Real Reason Netflix Is Losing Subscribers

screenrant.com:

Thousands of subscribers are canceling Netflix, and there's several key reasons why the streaming giant is going through hard times. Netflix essentially invented its own industry with subscription streaming, offering customers an all they could watch buffet of movies and shows that they could access for one low monthly fee. For a long time, Netflix's main streaming plan was only $7.99 a month, making it an extremely economical form of entertainment. Sadly, that price is now much higher, but that's only the tip of the iceberg.

Earlier this week, Netflix announced that they had lost 200,000 subscribers in the first quarter of 2022, and expect to lose a whopping two million more in the second quarter. This comes after a long period of sustained growth for the company, which for many years sat almost unopposed as the 800-pound gorilla of streaming. It's no wonder that Netflix's stock price dropped sharply, as when investors aren't used to ever getting bad news, any kind of bad news seems worse.

Related: Netflix Needs To Kill Binging To Stop Its Inevitable Decline

While Netflix is currently threatening to take actions like cracking down on password sharing between friends and family, a practice they once encouraged, the reality is that the backlash to doing that will likely lead to less subscribers, not more. Netflix may want to blame password sharing, piracy, and other economic factors for its decline, but in actuality, much of the reason Netflix finds itself in a bad spot is due to getting overconfident, and letting that guide it to make questionable decisions.

Netflix was once thought of as the best value in entertainment, thanks to offering thousands of movies and TV shows to stream for only $7.99 per month. In 2022,