OTT platform Netflix has once again surprised the subscribers. Members are leaving Netflix after several years of steady growth. Although the company already expected this and Netflix is also preparing to deal with it. The company said on Tuesday that between April and June, 970,000 subscribers left them.
That is, about one million subscribers of Netflix have decreased. To fill the space of the declining subscribers, the company has prepared a new plan. Soon Netflix may release a new plan with ad support. The brand had already informed us that they are working on it. At the same time, Netflix was already aware of the decrease in the number of subscribers.
The company expects the number to increase soon
Netflix had already said that it could lose 2 million subscribers this quarter (April to June). However, the situation did not get as bad as the company had anticipated.
The company expects to add one million new customers to its platform in the July-September quarter. At the same time, Wall Street analysts believe that this number could be up to 18 lakhs.
Challenges facing increasing competition
Netflix, which ruled the OTT market for several years, is now facing tough competition from companies like Walt Disney Company, Warner Bros. Discovery, and Apple Inc.
All these players are investing heavily in their streaming services. However, even after all this, the dominance of Netflix remains in the streaming services.
Still, dominate
The company has 221 million global paid subscribers. According to recent reports, Netflix is working closely with Microsoft for its ad support plan.
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The company can launch these plans soon. The company has made it clear that it will not add ads on its platform, but only those who opt for this plan will see the ads.
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