The development track of Netflix has not been stable for the last one year or so. The company has taken some moves out of frustration and so has reflected on the audience.
The subscriber growth of the audience has been too slow this quarter. Mind you we are talking about the third quarter from January 1, 2023, to March 31, 2023.
Netflix could add only 1.75 Million subscribers in the Q1 of 2023. It is extremely low in comparison to the last quarter of 2022 where we saw a massive growth of around 7.66 Million subscribers.
This slowness came out when Netflix offered the first full quarter of ad supported services. But there is a big change in the strategy of Netflix from 2023 onwards. Now, the focus of the platform is not centered around subscriber growth but revenue generation.
Unfortunately, Netflix missed the subscriber growth for a big time. They predicted an addition of at least 2.3 million new subscribers but you already know what happened.
The problem seems even bigger when you realize that 2023 Q1 offered films like The Pale Blue Eyes and series like You Season 4.
The platform needs to revamp the way they work otherwise such trends are gonna push them to doom.