More long-term Netflix customers are canceling their subscriptions

midian182

Posts: 7,882   +81
Staff member
In brief: Under-pressure Netflix has just got some more bad news: a new survey suggests that not only is the streaming giant losing customers, but it's the once-loyal long-term subscribers who are abandoning the company they've been with for years.

As reported by The Information, data from analytics firm Antenna shows that 3.6 million people canceled their Netflix subscriptions last quarter. That's over a million more than the previous five quarters, which had seen cancellations hover around the 2.5 million mark.

What's likely to concern Netflix is the type of customers it is losing: 13% of cancellations in the first quarter of this year were from those who had been subscribers for three years or more. That's up from 10% during the same period a year earlier and it was just 5% in the same quarter two years before.

The data, taken from the subscription habits of five million Americans who shared it anonymously, also shows that 60 percent of cancellations last quarter were from those who had signed up to Netflix for less than a year. That's down 10 percent compared to Q1 2021.

Netflix was rocked in April when it reported a net loss of 200,000 subscribers globally during the first quarter, the service's first decline in a decade. Since then, it's talked about ad-supported tiers and password-sharing crackdowns, while fan site Tudum saw many staff let go. This week also brought news that the company has let go of around 150 employees in another round of layoffs.

There are plenty of factors as to why Netflix is losing subscribers. The stay-at-home rules during the pandemic boosted the company's customer numbers, but many are now dropping their subs. There are also rising living costs and inflation, as well as Netflix's long-running habit of canceling popular shows after a season or two. Ultimately, though, consumers might have just reached peak subscription. At least we have livestreaming and a new season of Black Mirror to look forward to.

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QuantumPhysics

Posts: 6,308   +7,247
The only reason I have Netflix is because my sister had it and I'm sharing her code. It's always been my philosophy that I'd rather buy DVD's of my favorite movies than rely on digital downloads. While cumbersome, it guarantees that a) I can watch whatever, whenever and b) my content can't be changed, censored or deleted by the soft minded. I only buy uncut, uncensored products.

The only thing Netflix gave m that I couldn't get elsewhere (except Frostwire) was Squid Games.

Their movie lineup is not as good as Showtime or HBO.

If I lose the password share, I could care less.
 

Dimitriid

Posts: 2,203   +4,239
I really don't understand what's so special about "long term" customers: Nobody is going to pay them to be "loyal" customers if the service and it's content looks NOTHING like it did 3 or 4 years ago. Customer loyalty is such a ridiculous term: why would a service provider expect loyalty if they can't deliver the same content and value proposition? Pay Netflix for the privilege of them firing employees, cancelling shows, increasing prices, treating paying customers as criminals for sharing accounts something they explicitly said was ok in t he past?

Netflix should stop clutching damn pearls instead and reverse these nonsense of "cracking down on account sharing"
 

dangh

Posts: 572   +908
It is normal and actually healthy thing to do. Sure, during the pandemic watching anything was kinda solution to the lockdowns, but in reality it is enough to have a subscription a few months a year, watch all the content you're interested in, and then cancel, while waiting for new content to be available. Preferably at some autumn/winter time. So cancelling, or switching to some other provider is best option for your wallet and shows you're still in the control.
 

Sathi43

Posts: 33   +42
I wonder if the popularity of "X is on a downward spiral" stories have a correlation with how much of a bully they were in their glory days?
 

Neatfeatguy

Posts: 832   +1,445
My biggest gripe with Netflix over the past few years are the shows they put out and only make 1, maybe 2, seasons and they're just canceled with no reason. They have so many shows they've created, left open and never finished.

I went through My List not too long ago and I removed 7 or 8 episodic shows that I had to look up and find out that Netflix canceled them after 1 or 2 seasons and none of them were listed with any specific reason. Shows I enjoyed that were pretty entertaining and seemed to draw enough views, especially if a second season was made, only to be shut down.

I've tried finding other things to watch on Netflix, but pretty much anything they have on there doesn't appeal to me. My 9 year old son is about the only one that uses Netflix on an almost daily basis and it really is the only reason I keep my subscription to Netflix.
 

QuantumPhysics

Posts: 6,308   +7,247
Get woke - go broke lol


I don't think Netflix's problem is wokeness. I think their problem is they don't have enough good movie content to justify their price. If you had a single service with every single movie ever made, they wouldn't need any original content at all. I have HBO and their original content has been outstanding - but even if it wasn't, the movie access would justify my subscription.

The only two experiences I got out of Netflix was binge watching Breaking Bad and Squid Games. Netflix's movies - that I want to see - are lackluster.
 

RudyBob

Posts: 559   +519
"The data, taken from the subscription habits of five million Americans who shared it anonymously,"
Most critical point in article
 

RudyBob

Posts: 559   +519
"The data, taken from the subscription habits of five million Americans who shared it anonymously,"
Most critical point in article
Also...to make a point "Yeah. Johnny always says you can just screw so much and drink so much."

How many times can people watch the SAME thing in different costumes
 

Geralt

Posts: 1,125   +1,738
I don't think Netflix's problem is wokeness. I think their problem is they don't have enough good movie content to justify their price. If you had a single service with every single movie ever made, they wouldn't need any original content at all. I have HBO and their original content has been outstanding - but even if it wasn't, the movie access would justify my subscription.

The only two experiences I got out of Netflix was binge watching Breaking Bad and Squid Games. Netflix's movies - that I want to see - are lackluster.
Breaking Bad, such a masterpiece!
 

SirDigby

Posts: 894   +757
TechSpot Elite
As long as Netflix still has stuff I want to watch on it then I probably wont cancel it, had it for like 7 years now? I think I get more value out of it than most because I like to rewatch shows a lot, if you only watch something once you can probably just subscribe for like a month or two every 6 months to catch up on anything new that might have released.

I should add I get Netflix half price through work though too, got Disney+ for a year for free as a promo, the most annoying thing and least value thing I pay for is Youtube Premium, at £12 a month its the most expensive subscription I have and doesn't actually provide me with any extra content, I just can't stand adverts, downloads and background play are useful, but its mainly because I hate ads.

Y'all shouldn't be needlessly loyal to any brand, they want your money, they don't give a damn about you.
 

NumberSix

Posts: 141   +191
In the UK you can get both Amazon Prime with all of the benefits that come with it and Disney+ for the same price as Netflix with 4K. This has to be a similar situation everywhere I'd have thought, Netflix has become terrible value and with so much lost content to boot.
 

mctommy

Posts: 417   +143
Have had it through T-Mobile for free and paid extra for HD/4 logins and will keep it since the kids watch it. Revenue-wise this is not gonna hurt them a whole lot, investors on the other hand will keep on hammering the stock as churn is the name of the game.
 

wiyosaya

Posts: 7,694   +6,633
I'm not filled in on that one, but probably. Throwing meaningful words around in a meaningless way to discredit people only hurts actual victims of racism and pedo groomers.
People like him perpetuate racist attitudes which allows, and even encourages, racism to exist. Perhaps you should look up the dictionary definition of woke. Otherwise, you, and him, are the ones throwing around your terms "go woke go broke" in a meaningless way and hurting actual victims of racism.
 

lripplinger

Posts: 338   +138
Meh, I'm not interested in Netflix content. I stopped giving them my monthly subscription dollars after the "cuties" thing.