Where next for Netflix shares as 25% of subscribers poised to quit?
After a survey featuring 1000 Americans, many as 1 in 4 US subscribers may quit the service in the next year.
Netflix subscription woes
Netflix could be in for a rough time ahead over the next 12 months if a new survey is anything to go by, which was conducted in the US.
Out of the 1,000 adults that took part in this survey undertaken by Reviews.org, around 25% of those that were covered said that they would be cancelling their Netflix subscription within the next 12 months.
Now, it says with that 25% of US subscribers to Netflix considering leaving, not to join a competitor, but mostly because of pressures on household bills.
This is how it is split:
- rising cost of subscriptions - 40%
- inflation - 20%
- a lack of content - 22%
- spending more time on the services of others - 18%
So you can see, a minority said they were going to other services, such as those provided by Disney Plus or Amazon Prime.
The cost of Netflix has risen dramatically this year as its basic plan increased by 11% in January and its other plans by 20% to 25%. Now these were the first price increases for three years, so that itself is relatively new for a lot of subscribers.
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