[SOLVED] The big takeaway is this: Netflix lost 200,000 subscribers in its 1Q
1. Read the following articles as well as any others related to this that you can easily find:
(Second Article Provided as a PDF)
The big takeaway is this: Netflix lost 200,000 subscribers in its 1Q, and now warns of even much larger customer losses to come. During COVID, households added streaming subscriptions at a rapid pace, if only because they were home-bound and had nothing else to do. But now that we are more or less back to normal, we do not have that free time for viewing. And then there are the effects of inflation and high gas prices that have people scurrying to trim $15 here, $7 there, etc. Every little thing now counts unlike before.
How should Netflix respond? Should it go to tiered pricing with ad-free premium and cheaper ad-supported content? As noted in one of the articles, there are risks to offering the tiered plan, especially if current subscribers downgrade their plans. That’s now a loss of revenues too. On the other hand, a cheaper tier could bring in incremental (new) customers.
Netflix is the king of digital content, and has enjoyed being in the driver’s seat as a digital marketer in the entertainment sector for 15 years. And that does not count its prior dominance as a mail-order provider of DVD rentals. But now its dominance is being challenged sorely.
What to do, what to do?
I NEED 250-300 WORDS OVER THE FOLLOWING TOPIC RELATED TO NETFLIX:
Why are memberships currently on the decline ?
1 OUTSIDE SOURCE
-please no introduction. Just 275 words over why Netflix membership is declining.
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