Are Netflix Subscribers Planning To Cancel Their Memberships This Year? What May Be The Reasons?

Despite being one of the most popular streaming apps in the world, Netflix is not witnessing smooth sailing lately. From stiff competition to large-scale subscription cancellations to slow growth; all our contributions to the worries of the platform.

The problems became so adverse that the platform had to downsize its staff a while ago due to rising expenses. While the streaming platform is already going through a tough phase, why are users withdrawing their subscriptions? 

Just in the first two quarters of the current year, around 1.2 million Netflix subscribers have quit their subscriptions. As per a study, one in four Netflix subscribers is planning to take a step back from their memberships in 2022.

Despite all the hardships, the company remains hopeful with its brand new ad-supported service aiming to flood in one million new subscribers.

When 1,000 Americans were asked about their streaming preferences in 2022 in a survey, nearly 77% of Americans subscribed to Netflix, out of the four streaming platforms. Moreover, 70% of Americans stated that their preferred service is Netflix. On the next priority comes HBO Max (9.91%), followed by Disney + (6.18%), Peacock (4.25%), Hulu (3.86%), and Apple TV+ (2.70%). Paramount + comes at the last position with a 2.70% preference.

The Big Question- Why Do Some Netflix Subscribers Want To Discontinue Their Subscription?

Out of all Netflix subscribers, nearly 25% want to discontinue their subscriptions. One major reason cited by two-thirds of the ones who plan to discontinue their membership is the rising fees charged by the streaming platform.

Furthermore, some section of people who do not like 

Some sections of the total population surveyed also cited an important reason saying that the platforms no longer offer the programs they like to watch. 

The Platform’s Take On The Same

Despite the negative use, around 70% of respondents still use Netflix over other streaming platforms by a 60% margin in terms of usage. Thus, while making efforts to reduce the cancellation of subscriptions, Netflix still feels safe in its position 4 out of every 5 respondents claimed that they preferred Netflix over others.