Netflix Faces Setback in Australia as Subscribers Turn to Competing Streaming Services

Despite being a dominant force in the Australian streaming landscape for over eight years, Netflix is encountering challenges as customers push back against restrictions on password sharing. A recent report by Telsyte indicates a decline in Netflix subscriber numbers for the first time, with approximately 200,000 users leaving the platform in June.

The drop in subscribers coincides with Netflix’s efforts to curb password sharing by enforcing individual subscription payments. However, the move has not been well-received, leading some users to seek alternative streaming options.

The Telsyte study reveals that around 1 in 3 Australian subscribers to subscription video on demand (SVOD) services share their accounts with friends and family. A notable 7% of new users who joined in the last year have responded to the new rules by cancelling their Netflix subscriptions.