For the first time in ten years, Netflix has lost subscribers.
According to a report, the streaming platform lost 200,000 subscribers globally -- and from the looks of things, more losses are to come over the next few months...
As a matter of fact, Netflix believes it could lose 2 million subscribers by the end of the second quarter. But despite the loss, Netflix remains the largest streaming platform with 222 million subscribers.
Netflix believes the rise of competition and the sharing of passwords are part of the dip in subscribers.
“Our revenue growth has slowed considerably as our results and forecast below show,” Netflix executives wrote. “Streaming is winning over linear, as we predicted, and Netflix titles are very popular globally. However, our relatively high household penetration — when including the large number of households sharing accounts — combined with competition, is creating revenue growth headwinds.”