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Netflix Subscription Numbers Are Down

Are the “Netflix and chill” days on a decline? Or is Netflix just experiencing the cyclical woes of the market.

When the global pandemic was in its initial stages and people around the world were confined to their homes, Netflix subscriptions skyrocketed. The Washington Post reported that Netflix received a record 16 million subscribers worldwide at the end of March. By the summer, Netflix’s growth began to slow down. Subscribers dipped to 2.2 million over the summer.

“As expected, growth has slowed, we think this is primarily due to our record first half results,” Netflix executives told investors.

Netflix is the golden child of the stock market. Investors expect the company to outperform it’s competition at all times. Maribel Lopez, founder of Mount Pleasant, S.C.-based Lopez Research called this an “unrealistic expectation,”

Indeed, Netflix does have steep competition. Popular original content from Disney+, Apple TV+ and HBO Max have brought new eyes to those platforms.

Netflix canceled one of its most popular shows earlier this month, despite having previously been announced as renewed. The Emmy award winning production GLOW, has now been canceled. Netflix also did not renew the drama “Away” starring Hilary Swank. These cancellations could be due to increased costs as a result of the pandemic.

Nevertheless, Netflix looks to its own range of original content lined up for the new season to help gain user interest again. Due to the global pandemic, many Netflix shows have halted production. Netflix said it has finished principal photography on more than 50 productions and is expected to finish shooting on more than 150 other productions by year’s end.

Many believe that Netflix is going to be making major changes within the coming months, possibly increasing subscription prices. This past month, Netflix raised its subscription in Canada. The company recently ended 30-day free trials of Netflix in the U.S, a sign that things could be heading in a different direction.

©2019 by URBAN NEWS