Netflix is losing long-term subscribers: Report

Netflix is losing more long-term subscribers, based on a survey report viewed by The Information. The report by analytics firm Antenna showed that 13 per cent of those who cancelled in Q1 2022 had subscribed for more than three years.

The survey was conducted among 5 million users in the US, who shared their account data anonymously.

Nearly 3.6 million cancelled their Netflix subscriptions in the last quarter of 2021, an increase from 2.5 million in the previous five quarters, The Verge reported. New users accounted for a smaller share of total cancellations, as per the report.

Subscribers for less than a year accounted for 70 per cent of cancellations in the second quarter of 2021, while long-term users accounted for six per cent, The Verge reported. New subscribers accounted for 60 per cent of the cancellations in the last quarter.

Netflix reported the loss of 200,000 subscribers in the first quarter of 2022, after which it planned to crack down on password sharing. The streaming service later hinted to employees its plans to launch low-budget ad-supported subscription. Recent reports revealed Netflix is exploring live streaming of its comedy specials and other unscripted shows. The Hindu BusinessLine