Despite the harsh competition in the streaming services industry and the changes it has been through, Netlfix has survived 2022, but at what cost?
NETFLIX HAS LOST POPULARITY LATELY, AS YOUNGER PEOPLE LOST INTEREST
According to the statistics, Netflix had approximately 221.64 million paid subscribers worldwide as of the first quarter of 2022, meaning a decline of around 200,000 Netflix subscribers compared with the previous quarter.
Most Netflix subscribers are based in the United States and Canada, with the U.S. and Canada accounting for over 75 million of Netflix’s total global subscriber base.
Needless to say that Netflix has changed the way we watch movies nowadays, judging by the fact that Netflix’s DVD rental service suffered a drop from 11.17 million in 2011 to just 2.15 million Netflix subscribers by the end of 2019 in the United States.
The company experienced some issues in 2022, and this was echoed in the employees’ well-being, as well as the services offered to the subscribers.
A Netflix spokesperson told Variety: “Today we sadly let go of around 300 employees. While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth. We are so grateful for everything they have done for Netflix and are working hard to support them through this difficult transition.”
The journey has been full of ups and downs, from the huge success of the Korean television program The Squid Game – reporting the most impressive streaming numbers ever for the service, to a huge number of people canceling their accounts following Chappelle’s The Closer. According to a report, Netflix was exploring to attract older viewers, as the younger people suddenly lost interest.
According to The Guardian “Netflix is set to report the smallest growth in subscribers in a decade next week, as the flow of young fans who have fuelled its meteoric rise slows down, leading it to target tech-wary over-55s.”
Among these unfortunate events, the streaming service has lost subscribers, and it doesn’t get any better in 2022.
CAN YOU STILL GET A NETFLIX FREE TRIAL IN 2022?
While Netflix dropped its 30-day free trial in December 2019, the streaming service allowed anyone to sign-up and start streaming everything in its catalog for an entire month at some point. As an alternative, Netflix published a series of episodes from its most popular shows as well as exclusive movies to tempt users to explore the service.
Unfortunately, this option has now been shuttered too, so watching Netflix for free is no longer an option.
If you go to Netflix Help Center you will encounter the statement:
‘Netflix does not offer free trials, but you have the freedom to change your Netflix subscription or cancel online at any time if you decide Netflix isn’t for you.’
Moreover, back in January, Netflix increased its monthly subscription price in the United States to help pay for new programming, in order to survive in the competitive streaming TV market. Therefore, the standard plan that allows us to watch on two devices at the same time with a maximum resolution of 1080p, or full high definition is now $15.49 per month in the United States.
That being said, the cheapest way to watch Netflix is by sharing a “Premium” plan. It costs $19.99 per month and you will be able to stream on four devices at a maximum picture quality of 4K ultra-high definition.
According to Statista, users belong to diverse ethnic backgrounds. It seems like more Hispanic and African Americans own a Netflix subscription than their White counterparts – which reflects the company’s value for diversity. The survey also showed that the streaming service appeals to all age groups – Netflix subscribers range from 18 to 54 years old.