Netflix Loses 1 Million Subscribers as It Continues Its Slow Death
It’s hard to Netflix and chill when everything’s on fire
Netflix was the original streaming giant, disrupting a stale industry failing to keep up with technological advances. It proudly wore the crown, enjoying its first-mover advantage to eat up market share and acquire subscriber numbers at breakneck speed.
The dawn of the binge had arrived, and for that first decade, Netflix nailed the growth-before-profit silicon valley playbook to maximize its position as the market leader.
But others started to take note. Realizing they too could take a piece of the subscription model that their investors now demanded — thanks in part to the pandemic restrictions turbocharging a new way of consuming content — competitors began sharpening their swords for battle. They were also smart enough to realize that Netflix was making money off their content. No more licensing deals; it was time to take it back and cut the head off the snake simultaneously.
Initially, Netflix had held its ground, staving off Disney+, Apple TV, Prime and many others, remaining the number one streaming service. But in 2021, there were signs of trouble. Growth, the defining metric for streaming companies, started lagging. The company lost subscribers in the US…
