Looks like things aren’t going well for the OTT giant. The recent reports clearly indicate that Netflix almost lost 970000 subscribers for the second quarter in a row. In the first quarter, it lost around 200000 subscribers.
The streaming platform expected a loss of around 2 million subscribers in the second quarter but the loss was less than the expected figure, but still, that isn’t great news. This continuous shrink in subscriber base is definitely a warning sign to look forward.
As of today, Netflix holds 220.67 million subscribers worldwide. Meanwhile, Netflix India is still struggling its way to match the Indian OTT platforms. Many opine that the OTT giant isn’t giving much importance to regional content. Also, there is a complaint about the high pricing monthly plans which don’t suit the Indian context. Hence the failure.
Netflix is currently in plans to launch new ad-supported streaming shows at a lesser cost in order to gain new customers who are more price-conscious. Netflix is partnering with Microsoft for the same. However, the pricing for this new ad-supported plan is yet to be unveiled.
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