Home » Business » For the first time in a decade, Netflix lost subscribers

For the first time in a decade, Netflix lost subscribers

Netflix lost overall 200,000 subscribers between January to March 2022 the first in 10 years, the company stated in a letter to shareholders Tuesday.


IT News Nigeria:

Report has it that, for the first time in a decade, Netflix lost subscribers -200,000 overall in the first three months of the year – resulting from fluctuating economic forces and increasingly fierce competition from other streaming platforms.

Netflix attributed its subscriber loss to several factors, including a slowdown in adopting broadband and smart TVs, password sharing among households, and increased competition from traditional cable and broadcast TV and other emerging streaming services.

Netflix had been the original disrupter in entertainment. Its emergence in the field encouraged every major studio in Hollywood to adopt a streaming strategy to better compete with Netflix’s bingeable, no-advertising revolution. Now with entrants like Disney+ and HBO Max sporting their compelling services, they are forced to use other strategies.

Share This:

READ ALSO  FirstBank Bags a Hat Trick of Awards at The Global Banking Banking and Finance Awards 2021

Leave a Reply

Your email address will not be published. Required fields are marked *



Check Also

FirstBank Sponsors Timeless Concert By Davido

*FirstBank says its sponsorship of Timeless ...

Konga makes 2023 list of best 25 companies

Konga has been listed among the ...

Konga Travels unveils flexible flights payment plan, eyes 20m Nigerians

Konga Travels and Tours has announced ...


FirstBank Announces Name Change For UK and Africa Subsidiaries

FirstBank says the subsidiaries are now ...

Huawei rolls out new Enterprise products, banks on TD Africa’s reach

Huawei, a leading multinational technology company ...

%d bloggers like this:
Skip to toolbar