Why the decline? Netflix's viewership atrophy may be due to implementing paid sharing, leading casual viewers to drop off and account holders to downgrade their plans or cancel their subscriptions altogether. This decline will come despite offering a lower-priced ad-supported option.
Quarterly Netflix paid streaming subscribers in the U.S. and Canada 2013-2023. Netflix reported 75.57 million paid streaming subscribers across the United States and Canada in the Second quarter of 2023. This marked a decline of about two million compared with the same quarter of the previous year.
On May 23, 2023, Netflix fully rolled out its new pricing plans, which include the ability to add other members at a cost, to the U.S., U.K. and around 100 other countries. To navigate through Netflix's stringent measures, users can employ NordVPN's advanced Meshnet technology.
Total subscribers: There will be around 251 million Netflix users in 2023, an 8.8% user growth from 2022.
For years, Netflix turned a blind eye to password sharing because it was fueling growth. But the streamer suffered heavy subscriber losses last year, and said that password sharing hurt its revenues and therefore limited its ability to invest in new content.
Netflix's crackdown on password sharing begins in Australia. You'll now need to pay an extra $8 a month to share outside your household.
Search Terms Are Surging
"'Cancel Netflix account,' 'Cancel Netflix,' 'Delete Netflix,' US-based searches rose 382%, 214%, and 162% in the last seven days as Netflix announced its plan to crack down on password-sharing users," the report's authors write.
Despite the United States being Netflix's leading market in terms of subscriber numbers, Australia and the United Kingdom had higher penetration rates.
75% of Netflix users in the US are between 18 and 34 years old. According to a survey conducted in August 2021, Netflix is significantly more popular among younger consumers than older generations, with 75% of 18 to 34-year-olds and 72% of 35 to 44-year-olds stating they have a Netflix subscription.
Netflix might keep buffering for several reasons like a slow internet connection, buggy updates, higher streaming quality than your device's capability, or a server issue from Netflix itself. This article discussed every possible way to fix Netflix's buffering problem. Why is Netflix lagging on my smart TV?
Every month, Netflix loses a bunch of movies and series as licensing rights come up for expiration. August 2023 will be no different, with dozens of movies and series set to leave Netflix US.
Best streaming service overall
There's a reason why Netflix has become shorthand for streaming in general. The former movie rental service evolved into the top-tier streaming app that's a must-have in 2023, even if you're paying extra to share your password.
Netflix's recent move to crack down on password sharing has boosted subscriber numbers by nearly 6 million in the last three months, for a total of 238 million subscribers globally. Netflix announced plans to limit sharing earlier this year after experiencing its first subscriber loss in a decade in 2022.
Its library of movies and TV series is bigger than those of all its major competitors except for Amazon, but the Netflix library is curated, uncluttered and streamlined on a user-friendly platform. Its original content leads the industry and includes everything from stand-up comedy to original horror series.
In October 2022, JP Morgan analyst Doug Anmuth issued a note predicting that Netflix's move to incorporate an ad-supported product offering could drive the growth of an additional 7.5 million new subscribers to its existing subscriber base in 2023 within its North American markets, rising further to 22 million ...
Stock Price Forecast
The 36 analysts offering 12-month price forecasts for Netflix Inc have a median target of 492.50, with a high estimate of 600.00 and a low estimate of 293.00. The median estimate represents a +15.65% increase from the last price of 425.85.
Netflix's average revenue per membership showed weakness in the most recent quarter as the streamer focused on its stated revenue drivers rather than increasing prices. The company this week removed its least expensive, no-ads plan in a push for customers to opt for the cheaper ad plan instead.
Europeans and Asians watch the least Netflix
At the other end of the scale are Qataris who have watched less than half the average Netflix viewer. Having watched an average of 30,811 minutes of Netflix, Qataris have consumed 1,466 hours (over 61 days) less than Peruvians.
As of 2022, Netflix is streaming in over 190 countries, not including China, Crimea, North Korea, Russia or Syria.
According to a study, 47% of American citizens prefer Netflix over other web streaming platforms. As of Q2 2023, the Europe, Middle East, and Africa have the highest number of paying customers. They gather around 79.81 million Netflix customers between them.
Netflix's largest individual shareholder is Reed Hastings, co-founder, and former CEO of the company, now Chairperson of Netflix, with a 1.7% stake, valued at over $2.4 billion in February 2023. Other significant individual shareholders comprise Jay C.