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Is this the beginning of the end of the most popular streaming service? Netflix stock market crash has put the entire streaming sector on alert.
Thousands of subscribers are canceling Netflix and the worst is yet to come. The end of the pandemic, the energy crisis, the war in Ukraine and inflation are putting pressure on many consumer’s finances.
The streaming platform is also facing other issues:
1. Netflix decided to increase its subscription prices forcing subscribers to cancel their accounts.
2. Netflix warns password crackdown is coming. It considers that many people are using the service without paying for it. More than a quarter of Netflix’s UK subscribers share passwords!
3. Netflix invests billions in creating original content that has no quality.
4. There are too many streaming services with a specific set of shows and movies that people are looking for.
It’s time to retain customers, either through reducing prices or with special content.