Netflix is finding it extremely difficult to firmly establish itself. Although the streaming giant reduced the price of its plan in India, it took the opposite step in the USA.
But even after the decreased prices of plans in India, Netflix remains the most expensive streaming platform in India. Unfortunately, even the content they produce does not justify the insanely high price given the resolution they provide.
Regardless, Netflix has reported falling short of the estimated new subscribers. They ended last year with 221.8 million subscribers at hand, which is marginally less than what they had actually predicted.
Global hits such as Squid Game and Money Heist could not be enough for a lot of people to pay the subscription fee.
Image Credit- Netflix
In Q4 of 2021, Netflix could garner 8.3 million new subscribers against 8.5 million that they projected.
This year marks the company’s lowest growth year since 2015.
“Consumers have always had many choices when it comes to their entertainment time competition that has only intensified over the last 24 months as entertainment companies all around the world develop their own streaming offering,” said Netflix.
It is high time Netflix should restrategize their content and pricing strategy as the year competition such as Disney+ is showing no signs of slowing down.