Things Are Not Looking So Great For Netflix

In recent years, Netflix has certainly faced its fair share of controversies and obstacles that have kept the company on its toes. But a new problem is hitting Netflix that they may not be so ready for.

The streaming service landed in hot water back in 2020 when it released the graphic film known as “Cuties.” Netflix was panned for allowing content with suggestive depictions of underage, prepubescent girls on its platform.

Following this, Netflix was slammed by the left for letting comedian Dave Chapelle to have a voice on the platform. Many leftists claimed that Chapelle’s content was “transphobic” and that Netflix should have removed it.

During the 2020 and 2021 shutdowns, many people signed up for Netflix accounts, having little else to do. However, as the world began to open up again, Netflix didn’t retain many of these new subscribers.

Now, the data is in for how Netflix performed during 2022’s second quarter.

A Major Loss of Subscribers
During the second quarter of this year, Netflix hemorrhaged 970,000 subscribers. This is many times more subscribers than the 200,000 the streaming service lost during this year’s first quarter.

If Netflix continues to lose subscribers at this rate, it could very well go under. However, the company is taking specific measures to ensure it remains operational and competitive.

Some of these steps include slight price increases and cracking down against account holders who share passwords to avoid monthly dues. Ironically, though, the slight upticks in monthly costs have played a role in some people unsubscribing altogether.

When inflation is at 9.1%, many Americans are forced to rethink what they’re spending money on. Netflix is also reportedly working on including a subscription program that lets users watch content with various ads scattered throughout.

A Netflix Comeback?
Despite the very clear issues that Netflix faces, the company projects a gain of one million new subscribers for the third quarter.

The streaming service is ultimately basing this upon its coming subscription program that allows for viewing content with ads. Netflix believes this will draw back customers who were originally alienated by its price increase for standard viewership.

As Netflix works to come back from various losses, other streaming services like Hulu, HBO Max, and Peacock still stand as formidable competitors.