Netflix got affected in the last quarter of 2021 as there has been a slow growth for Netflix subscribers. The probable reason is the direct result of many new streaming services that create original content. Netflix now competes with other OTT platforms such as Disney Plus, Amazon Prime Video, Peacock, HBO Max, Hulu, Apple Tv etc.
All of them have their own authentic content which attracts the audience. This is also one of the major reasons why Netflix blew up big time.
Netflix had gained 8.28 million subscribers for the final quarter of 2021, this is the number that only got across through North America. Netflix has reached a total of 221.8 million subscribers around the world. It is speculated that the streaming giant will be gaining 8.5 million subscribers but they fell short. The shares at Netflix inside the stock market fell a whopping 19% in after-hours trading. The investors are really shocked by the new development as streaming will continue and its content creation plan for 2022.
What’s the next step that Netflix should take?
It’s not predictable when and how Netflix will recover from the hit. The other OTT platforms have some huge content coming up which means they will have some more subscriptions. Disney Plus is going good with their game as they are producing more regular content on their platform. Netflix needs to up their content game a little bit so that it survives in the race.
Recently, Netflix revealed that the number of subscribers in India is too low. Market estimates place the figure between 4.3 million and 4.5 million, a fraction of rivals Disney+Hotstar. Experts blame it on Netflix’s strategy and approach of “throwing money at every problem”.
Netflix came to India in the year 2016 and after two years the OTT platform started producing its original content.
Read more: Netflix co-founder finds it frustrating that the service is performing poorly in India
