A couple of months ago, Netflix dropped the bombshell that many were waiting for: the platform stopped allowing users to share their accounts. Although this is something that a priori was already illegal, no action had been taken until now… and it seems that the strategy has not worked out well.
As reported by Bloomberg, through data extracted from the consulting firm Kantar, Netflix has lost more than one million users during the first quarter of 2023 in Spain. This drop is very significant if we take into account that, according to Statista, the platform has 9.6 million subscribers in the country.
A shot in the foot by Netflix
Considering that 61.3% of all subscribers shared an account, the news is not all that strange. It is a significant shot in the foot for Netflix, and one that they will have to compensate in some way over the next few months so that the drop is not as severe as it is right now.
Moreover, everything seems to indicate that the figures will get worse. The report adds that 10% of the remaining Netflix users are planning to cancel their subscriptions during the second quarter of 2023. Thus, we could be talking about an even more significant decline.
For its part, Netflix sees this move as a big step in the long term. It believes that, despite causing it to miss its growth expectations at the beginning of the year, its new ad-supported subscription plan will cause subscriptions to increase for the rest of 2023.
However, not everything is so clear-cut. It is no longer only the account sharing measures that affect them, but also their decisions. On the one hand, there is the fact that more and more series that could work after only one season are being canceled. And on the other hand, there are the bad decisions in fictions such as The Witcher, in which they have lost their main character.
If we add to this its expensive price compared to other VOD services, its situation gets even worse. And considering that platforms such as Disney Plus, HBO Max, Amazon Prime Video or Apple TV+ continue to grow, it is clear that Netflix’s future will be darker than its past.
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