The cost of pretty much everything is out of control these days. From mortgage rates to rent, electricity and food – it’s all just too damn expensive.
That’s why 1 in 4 Netflix users say they plan to end their subscriptions to the service this year as living costs continue to skyrocket, according to a Reviews.org survey.
If the survey pans out to real numbers, that could mean 18 million US subscribers will walk away from Netflix, leaving a staggering $272M shortfall for the already struggling company.
Streaming video on demand (SVOD) services are already struggling as users returned to work and school and started leaving their homes after the pandemic slowed to a crawl.
Two years of people locked in their homes led to a sudden rise in subscribers, and the other side of that wave is now crashing down.
Of the 25% of people planning to leave Netflix due to costs, 40% say that their primary reason for leaving is the recent increase in subscription prices. Just under 22% don’t feel like they’re getting their money’s worth, compared to other streaming services that are banking big on original content.
After Netflix lost its contract with Disney after the latter created its streaming service, Netflix struggled to find its niche. And now, it may find itself in a financial hole it will scramble to climb out of.
I can’t remember the last time I used Netflix.
I watched Blonde last night. It was ok. Marilyn Monroe with a Spanish accent was weird for me.