The streaming service saw its subscriber numbers drop for the first time in more than a decade
The streaming service saw an unexpectedly large drop in subscribers in the first quarter of this year, prompting bosses to consider changes it had long resisted.
How many subscribers has Netflix lost?
Netflix’s subscriber base fell by 200,000 subscribers in the January-March quarter, the company announced on Tuesday (April 19).
It’s the first drop in membership since the streaming service became available in most parts of the world six years ago.
The drop is partly due to Netflix’s decision to pull out of Russia in protest of the war on Ukraine, which resulted in a loss of 700,000 subscribers, and another two million subscribers are expected to be lost in the current quarter from April to June .
The company estimates that around 100 million households worldwide are breaking its rules and watching its service for free using a friend or other family member’s account, including 30 million in the US and Canada.
Cracking down on password sharing and creating a low-cost subscription supported by advertising are now being considered to regain momentum and attract new members.
How much does Netflix cost in the UK?
Netflix announced an increase in its subscription costs in March, boosting the price of its Basic and Standard plans by £1 for new and existing customers.
The Basic plan, which allows subscribers to watch one screen at a time in standard definition, now costs £6.99 a month.
The standard plan costs £10.99 per month and offers HD viewing, two simultaneous streams and two devices to register for downloads.
The cost of the Premium plan has increased by £2 and is now £15.99 per month. With this package, subscribers can stream on four screens simultaneously in HD and Ultra HD.
Netflix said the price increase would allow it to “continue to invest in top-notch British productions” and “offer a wide range of curated quality shows and films”.
How do I cancel Netflix?
Netflix members who are not satisfied with the prices can cancel their subscription. You can do this at any time and you will not be charged any extra fees for leaving.
To cancel, simply log into your Netflix account and select “Cancel Membership” in the “Membership and Billing” section from the drop-down menu in the right corner of the home page under “Account”. Then select “Complete Cancellation” to confirm.
If you cancel within your billing cycle, you can continue using the streaming service until it ends.
It is also possible to switch to a cheaper subscription package by logging into your account on the Netflix website.