Monday, May 2, 2022

Netflix losing subscriptions

So with Netflix lost customers, huh? That made big news for some reason. Maybe because everybody thinks Netflix is a cash cow that goes on forever.

Actually, it might be. But losing 200,000 subscribers was unexpected. So, what's it mean?

Well, maybe it means that people are tired of rising prices and having to subscribe to so many streaming services that they're paying as much as when they had cable.

Maybe they feel that Netflix isn't worth the money. I don't subscribe, so whatever is causing people to leave, it's probably not the same reason I stopped subscribing several years back. Or maybe it is.

Unlike the early days of streaming, merely existing as an alternative to cable TV is no longer good enough in and of itself. Just ask shareholders of Netflix, who watched the stock plunge 35% on Wednesday after the company lost (net) 200,000 paying customers during the first quarter of the year, here and abroad. Not even Netflix's award-winning content library was enough of a draw to keep them on board. While most U.S. households utilize a combination of between six and 10 paid-streaming services, according to TiVo's report, there's far more than that out there, and there's only so much time anyone can spend watching television.

My philosophy on subscription services is to not subscribe to multiple ones, at least, not at the same time. If there's something on Netflix I want to see, I'll subscribe, but only for a month. I'll binge what I want to see, and then cancel at the end of the month. The next month, I'll subscribe to another service, watch it for a month, cancel, then the next month, pick another service and repeat the process.

In a year, Ive watched what I wanted to watch and subscribed to only one service a month. It's cheaper doing it that way, at least for me.

If Netflix is a part of your Streaming Life, and you're happy with it, then that's great. If you canceled recently, I'd be curious why. But to whichever services you subscribe, if you're happy with the product and the price, you're in good shape, because that's the goal.

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