The growth in the number of new Netflix subscribers is slowing down
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The number of subscribers to Netflix rose to 222 million last year, but the streaming service is facing difficult times. The influx of new subscribers, marking the times of the pandemic, is subsiding, and competition is growing.
Last year Netflix has added 18.2 million new users – approximately half of the number of new subscribers registered in 2020, notes BBC . The company’s forecast for 2022 also brings bad news. The company said it expects to add only 2.5 million new users in the quarter ending in March. This is much less than expected by analysts.
Retaining the engagement of existing customers is good, but the growth of new entrants has not yet accelerated to pre-Covid levels. , admitted Netflix in a statement. The reason for this is the pandemic and the macroeconomic difficulties in parts of the world such as Latin America.
A strong factor is the growing competition from companies such as Disney, Apple, Amazon and HBO. “Consumers have always had many choices when it comes to leisure time,” the company said. In the last 24 months, however, competition has grown as entertainment companies around the world develop increasingly aggressive proprietary streaming
Netflix spends billions of dollars creating content to keep viewers interested. However, this also leads to higher costs.
“The forecast for new subscriptions in the current period is just over half of last year’s figure,” said Laura Hoy, an analyst at Hargreaves Lansdown. According to her, the company’s management justifies itself with the schedule for the new content, according to which “several big titles will be released at the end of the quarter”, but investors are undoubtedly embarrassed by the forecast for slower growth.
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