From the threat of adding ads to the streaming platform, price hikes and more, here are the top five reasons why I believe Netflix is going downhill.
1. Oversaturation of content
So often when I open Netflix I am constantly overwhelmed by the overly large amount of content, and half of it isn’t even that good! For example, programming such as the reality show, “The Floor is Lava.” Meanwhile, shows popular with teens like “Stranger Things” use behind-the-scenes stuff as filler content to get money for other shows. I hope that Netflix fixes this in the near future and focuses more on quality and less on quantity.
2. The prices
Netflix has gotten to somewhat of a plateau when it comes to attracting new subscribers. The streaming platform has not been gaining new subscribers so once again they have raised their prices. According to the Netflix website, the 4k option of the streaming service has been increased by $2. The new prices are $9.99 for the basic plan, $15.49 for the standard plan and $19.99 for the premium plan. In comparison, Netflix monthly fees used to be $8.99 for the basic plan $13.99 for the standard plan and $17.99 for the premium plan. With these increases, the price of Netflix could be a problem for current users, especially teens.
3. Competition of other streaming services
A lot of people have canceled their Netflix subscriptions due to access to other newer services such as HBO Max and Disney+. While these two streaming services may not have the same variety as Netflix does, they have much more popular movies and TV shows. Shows such as “Ms Marvel,” “Moon Knight” and the entirety of the Marvel Cinematic Universe. Netflix used to have access to the more popular Marvel superhero genre with shows like “Daredevil” and “The Punisher”, but with the recent popularity of shows like “Moon Knight” and “Falcon and the Winter Soldier” on their platform, Disney wanted the Netflix Marvel shows as a part of their Disney+ lineup. This transition gives the watchers of those shows another reason to just cancel Netflix and get Disney+. I think Netflix should try to get deals from more popular companies for their shows.
4. 300 Employees Laid Off, and . . . Games?
According to Variety magazine, Netflix recently lost over 200,000 subscribers and close to 70% of their value. They have also experienced slowing revenue. In response to this cash flow slowing, Netflix had to do something about it in order to make more money. So they decided to lay off 300 employees. In the face of this, Netflix has planned to add games. Personally, I think this is a cool idea but it goes almost completely off their brand. I can obviously tell they’re doing it for the money.
Due to Netflix losing a large amount of subscribers, they are also considering adding ads to make up for the loss of revenue. This alone could lose them even more subscribers. If there’s one thing that Netflix has on other streaming services like HBO Max, it is the fact that they have no ads. If they do this, it will be a step back for them. And personally, if I had ads on a streaming service that was known for not having ads, that would be an instant cancellation.
That’s what Netflix is now turning into. The streaming service appears to running out of ways to make money or attract new subscribers. Netflix needs to step up their game or they might be out of the streaming competition soon enough.