The big-time streaming platform revealed its numbers from last year and reported over $100 million dollars in loss due to a big gap in password sharing and household use.
Netflix is a 24-year-old company but many people know it better as the streaming platform that started it all and set the tone for Prime, Crave, Hulu and Disney Plus.
The streaming company is one of the platforms that almost everyone has, yet they do not use, especially in Canada. For streaming platforms it was the safe bet, it had decent movies, really great TV shows and a few original series that sparked a lot of numbers.
Now, at a raging price of $20.99 Netflix is trying to earn back the money they have not only lost the last couple of years, but the money they lost in the last quarter alone.
Netflix has been on the up and up since 2011, and only gaining subscribers, yet the company kept increasing their price. For many people it was obvious that everyone shares passwords and accounts, if you can have multiple accounts and screens why would each person get their own account.
Now in 2021, Netflix reported alongside their $100 million dollar loss another loss, of over 200,000 subscribers. This may not come as a shock to many people as Netflix is just not producing the same content anymore.
Netflix was big when Stranger Things, You, Bridgerton and a few other shows hit the scene, but they were not smart about how to keep their customers. It was easy for clients to take advantage of Netflix, 1 you can easily share accounts, and 2, if Netflix releases the show all at once anyone can binge it in a day or two.
Companies like Crave and Prime, release their shows just like regular cable television; weekly. If Netflix did this they may not have lost 200,000 subscribers.
With a loss like this of both subscribers and money, it is evident that Netflix is going to want to come back stronger and possibly either release a ton of new content that breaks new records, but also bump up their prices once again.
Article published by HOLR Magazine