Recently, the popular Over-The-Top (OTT) platform — Netflix, saw a plunge in its subscribers and stock. During the pandemic, Netflix received much recognition and saw a large number of new users on its platform. Known for its wide array of content, Netflix hosts not only popular content from the past but is also home to its very own unique collection of original series and movies. The question now, why is Netflix losing customers now?
Why Netflix Is Losing Subscribers
Over the years, Netflix has launched many diverse original series. These shows became very popular worldwide. However, despite their undeniable success, Netflix canceled some of their most beloved shows. This led to much backlash from fans across the world and is a possible reason for Netflix losing subscribers in 2021.
Let’s find out how many people are still subscribed to Netflix. If not, then did they leave the platform? If so, what prompted them to do so? Are there any other OTT platforms that they would rather subscribe to? Why is Netflix losing subscribers? What measures should Netflix take to bring them back on the platform?
- Netflix is the most favorite OTT platform among others.
- Price (30.14%) is what matters the most to the respondents when choosing an OTT.
- Over 50.67% are still using Netflix because it has more content than others.
From a total of 200,000 online survey application respondents, majority (74.13%) of them are currently using an OTT platform. Meanwhile, only (25.87%) are not currently indulging in these film and television content provided via a high-internet connection rather than a cable or satellite provider.
Moreover, as Netflix is the most popular OTT platform, we’ve asked respondents if they are using it. 33.70% of the survey participants are using Netflix, 31.59% of them have used it in the past, but are not currently using it anymore, and 34.71% have never used it.
When asked what their favorite OTT platform is, as expected, Netflix (32.34%) took the first place. Second goes to HBO Max (16.77%), the third is Hulu (14.85%), and Disney with (13.21%). Surprisingly, Amazon took the 5th most favorite platform with just 9.77%. Meanwhile, Watcha (1.84%) and Apple TV+ (1.09%) are the least favorite platform from our respondents.
When choosing an OTT platform, price (30.14%) is what matters the most to the respondents. Perhaps, this is why Netflix is losing subscribers because based on this survey, we also found out that many people find Netflix expensive. With 27.22%, quantity content is the second factor that matters to the respondents. It seems that everyone wants to subscribe to a platform where they can watch a lot of shows such as series, movies, documentaries, and a lot more.
21.62% of the respondents think it matters whether the platform offers original and exclusive content or not. 7.12% considers the user-friendliness, while 2.48% checks on the platform design. Meanwhile, there are some other factors (3.28%) that they are looking for when choosing an OTT platform.
It seems that Netflix has more content than other platforms as half of the respondents (50.67%) are still using Netflix because of this. 25.40% is still with Netflix because the subscription fee is cheaper than other platforms. 7.11% started using Netflix for its 30-day free trial and did not want to go through the trouble of canceling their subscription.
1.13% find Netflix an easier platform when searching for content than on other platforms. 0.49% prefer its curation style, and 0.27% likes Netflix URL sharing function.
Netflix Subscription Decrease
It was reported that Netflix subscriptions decreased in the early year of 2021, why is that? We asked why the respondents are not using it right now if they have used Netflix in the past. 38.24% said the subscription fee was too expensive that’s why they cancel subscription Netflix. 30.24% think that Netflix does not offer content of certain genres that they are interested in.
Meanwhile, 9.50% are either still using Netflix or have never used it. 7.83% because fees went up, 3.49% do not have time to use OTT platforms, 0.81% are worried about using too much mobile data, 0.71% said Netflix does not offer free trials anymore, 0.59% finds Netflix slow on updating its content, and 0.37% are not satisfied with its customer service.
Respondents who never used Netflix were also asked what is their reason. 30.35% was already using other OTT platforms (i.e., Hulu, HBO Max, etc). 28.39% find its subscription fee too expensive. 13.52% think Netflix does not have enough content. 6.78% do not have time to use OTT platforms.
More so, 1.49% are worried about using too much mobile data, 1.14% are not interested in watching video content, and 0.92% said Netflix is no longer offering free trials.
Lastly, when asked which event would non-Netflix subscribers be convinced to subscribe to, 37.14% said if Netflix brings back the 1-month free subscription. 27.40% said they will subscribe if they brought back or stopped canceling their best original shows. 14.28% of them want free rental service for devices that you can watch Netflix on during the time of subscription.
Other events that would make them convince are as follows, cashback event (2.62%), ‘partnership between mobile carriers and Netflix that allows people to watch Netflix without subscription fee’ (2.33%), ‘permanently lower subscription fee’ (1.68%), ‘3-months free subscription to those who invite new users’ (1.49%), and (1.69%) if they allow people to pay for subscriptions via cryptocurrencies.
|Survey Title||Survey on Measures to Increase Netflix Subscribers|
|Duration||April 26 to May 2, 2021|
|Number of Participants||300,000|
|Demographics||Males and females, aged 21 to 60+|
|Participating Countries||Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan…Bahrain, Bangladesh, Belarus, Belgium, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Brazil, British Indian Ocean Territory, Brunei, Bulgaria, Burkina Faso, Cambodia, Cameroon, Canada, Chile, China, China (Hong-kong), China (Macao), China (Taiwan), Colombia, Costa Rica, Croatia, Cyprus, Czech Republic, Democratic Republic of the Congo, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Estonia, Ethiopia, Finland, France, Gabon, Georgia, Germany, Ghana, Greece, Guatemala, Guinea, Haiti, Honduras, Hungary, India, Indonesia, Iraq, Ireland, Israel, Italy, Ivory Coast, Japan, Jordan, Kenya, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Liberia, Libya, Lithuania, Luxembourg, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Mauritania, Mauritius, Mexico, Moldova, Mongolia, Morocco, Mozambique, Myanmar [Burma], Namibia, Nepal, Netherlands, New Zealand, Nicaragua, Nigeria, North Korea, Oman, Pakistan, Palestine, Panama, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Rwanda, Saudi Arabia, Senegal, Serbia, Sierra Leone, Singapore, Slovakia, Slovenia, Somalia, South Africa, South Korea, Spain, Sri Lanka, Swaziland, Sweden, Tajikistan, Tanzania, Thailand, Togo, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Venezuela, Vietnam, Yemen, Zambia, Zimbabwe.|