Netflix, the popular streaming service that has been around for 24 years, announced on April 19 that they have lost 200,000 subscribers around the world and are expecting that loss to increase. This is the first time in a decade that the company has had more subscribers cancel their membership than join; the last reported loss of customers was in October of 2011. Fewer subscribers could be a result of many things. Netflix suspended its streaming service in Russia after they invaded Ukraine which led to the loss of 700,000 Russian Netflix users. Netflix has also noted streamers sharing passwords and accounts. Sharing accounts gives users access to multiple streaming services (like Hulu or Amazon Prime) as well as Netflix without having to pay for all of them every month. Netflix has also increased subscription prices in the United States, Ireland, and the United Kingdom to help grow the company globally. Subscribers from the US, UK, and Ireland pay for content production in other countries, such as Asia, which have lower subscription prices. Streaming services also face competition from other companies such as Amazon Prime, Hulu, Disney+, Peacock, HBOmax, etc. Because of this users are given a lot more options and don’t just stick with one streaming service. Other entertainment enterprises, such as social media or gaming apps compete for consumers’ screen time. The majority of Millennial and Gen Z users spend more time watching shorter videos that are posted on things like YouTube, Tik Tok, or Instagram Reels. Junior Maddie Robson enjoys watching Stranger Things on Netflix but she said, “I spend more time on Pinterest and Instagram.” 

Netflix does have some great original content and shows that streamers are unable to get anywhere else. “I love the variety that the streaming service provides,” said Shelby Shuman (23). Outer Banks, Stranger Things, You, Shadow and Bone, Emily in Paris, Tiger King, Money Heist, Bridgerton, Squid Games, Ozark, etc. are all popular shows and movies available to customers who subscribe to Netflix.