Netflix Losing Customers Due To Repeated Price Hikes
If you ever had any doubts, Asset’s latest study confirms that it is indeed price increases that are driving Netflix subscribers away one by one. In the context of inflation and declining purchasing power, many are refusing to see their subscriptions rise on a regular basis without real benefits. For its part, Netflix continues to listen deafly and accuse account sharing.
This is certainly the least surprising news we have passed on. Contrary to what Netflix claims, it was not the sharing of accounts that led to the historic loss of subscribers, nor the cancellation of certain series that were adored by fans. but prices have been rising for over a year.
It’s clear to Attest’s analysts, and frankly to everyone else, that inflation and a decline in purchasing power don’t mix. So when the streaming giant raised its prices in France last October and again at the beginning of the year in the United States, the reaction from users was not long in coming: a few months later, it was no less than 1 million subscribers who ship left. Attestation insists on this point: Netflix doesn’t have a content problem, but it does have a price problem.
Netflix’s Surprise Price Hikes Not Liked By Subscribers
“With many other rivals potentially planning their own price increases in the future, the data ultimately shows how sensitive consumers are to even a small price change right now,” notes CEO Jeremy King, as Disney+ just announced a price increase in turn. . “They also signal the possible end of Netflix’s monopoly on the streaming business as consumers re-evaluate who deserves their clientele.”
Still, Netflix doesn’t seem to show the slightest sign of regret. Rather than lower the price of its subscriptions or, failing that, stagnate, the platform is instead preparing a way to charge users who share their accounts. The measure, which is already being tested in Latin America, is already provoking strong reactions from American and European subscribers. There is no doubt that for many this will be the final blow.
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