Nearly a million people cancelled their subscriptions with Netflix in the past 6 months but the streaming giants expected to lose twice the number after years of growth so the company is being hit by a busier marketplace and rising costs as our north America technology correspondent .

Nearly a million people cancelled their subscriptions with Netflix in the past three months but the streaming giants expected to lose twice the number after years of growth so the company is being hit by a busier marketplace and rising costs as our north America technology correspondent . And what it’s facing right now is it’s facing disruption
itself here in silicon valley Netflix has just released its new audience figures for the last quarter and they’re not especially good they lost a million subscribers in the last three months so what’s gone wrong for one there is simply loads of competition Disney plus amazon prime HBO max apple tv to name but a few and that competition has
created a brutal spending war the top eight streamers are predicted to spend more than 100 billion dollars on content
this year.

Netflix has come up with some monster hits in recent times think squid games the crown and Netflix productions were nominated for 27 Oscars this year the company is still making good content but the cost of living crisis has led to belt tightening with families across the world looking at streaming services as a potential saving many other households don’t have a Netflix account at all but share the login of friends or family one study found that Netflix was losing 25 billion dollars a year from people watching Netflix on someone else’s account.

Netflix has known about this problem for years and hasn’t been able to stop it from happening instead Netflix is now looking at adverts as a potential solution our research shows we did a survey in may amongst Netflix subscribers uh about nine percent of UK online adults who don’t currently subscribe to Netflix indicated that they would consider subscribing to Netflix I fit offered a cheaper ad supported tier Netflix knows that to survive it has to change if not one day it could be another blockbusters.