We have seen a lot of big moves recently from Netflix, claiming that the streaming giant is trying to keep more numbers from the disastrous showing earlier this year. The first step in making a ad-incentive cheaper subscription a standard has been being introduced. Netflix is putting on an attempt to improve account sharing.
People might want to abandon The Witcher and the other Netflix originals if prices continue to climb.
The WSJ has reported that the data showed that the researcher of Netflix has been campaigning about this for a while, claiming that password sharing is not coming into the platform’s subscription numbers.
Please don’t take that seriously, so I think the consumers will love that right away, according to Ted Sarandos, founder of Netflix earlier this month. And that is the risk this huge gamble brings, as the public’s opinion of Netflix has much worsened after record interest increased during the pandemic.
It seems to be a factor in Netflixs claims, with one study showing that the company is going to raise more than $720 million in extra revenue for it by shutting down password-sharing right now. Their findings were based on surveys in which most customers said they would pay additional fees if it were to let their family members sign in if Netflix would follow.
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As tempting the numbers could be to investors, they could also backfire. Netflixs are already the most expensive available streaming platforms. Adding fees won’t help at all. Even though making Netflix cheaper did not work, the opposite is not a good idea.
Since now, subscription-based models have taken over more industries, and multiple streaming platforms offering exclusive content, there is no sense that they were paying cable. Because of the huge economic and business burdens of a household, it is easy to imagine that many consumers drop Netflix altogether.
Netflix is testing this system in the US and the result is as expected. All of the consumers complain about the added expense. A common problem is implementing a system that can track members of the same family in which one or two individuals travel often. Netflix has many more things to do for it, whether it is traveling to another country, logging into a different device or just kids sharing time between the two homes of separated parents.
There’s still no fee for the additional fee that people have to pay. Ad-supported subscription tier Netflix introduced recently costs $7. According to reports, Netflix executives believe that the new fee should be much better compared to that. With the final aim of boosting subscriber counts which have dropped up during the early portions of 2022, this venture could go either way. In either case we’re treading dangerous waters. If it is accepted by consumers and Netflix sets a new precedent with skyrocketing prices, what’s stopping Hulu, HBO, Disney and Amazon from following suit? If not, Netflix could further magnify its 2022 losses by making it even stronger when it happened in the first quarter of 2023, making the road to 2020 much steeper.
If there isn’t a consolation, Netflix has the next seasons, Among others, You and The Witcher, going for it next year. With the fingers crossed, the popularity of its shows can help the streamer to prevent a further slide.