Netflix loses close to half a million subscribers
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Between the months of April and July, Netflix have took even further losses in the streaming space as it loses half a million subscribers.
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However with the release of highly-anticipated series, Stranger Things may have slowed the decline down a little.
Raising prices may be the culprit
With Netflix constantly tweaking with subscriber prices since January this year, this has made consumers of the service more hesitant.
With prices being up from $14 in January and as low as $11 back in 2019, the current price as $15.49 may have consumers skeptical on the gradual increases.
It is an indication for Netflix that the strategy to gradually increase subscription prices may result in some blowback for the company.
Going forward in 2024, it will be interesting to see how Netflix adapt and learn following the launch of their ad-supported subscription option.
While it will be less expensive than the regular basic option and the idea of infiltrating adverts onto the service.
This could result in an increase of subscriptions for households that would be further inclined to purchase a budget-friendly subscription.
