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Friday, December 2, 2022

Netflix’s Biggest Threat Is Competitors Catching Up

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Netflix is ​​having a miserable year. The streaming giant lose 200,000 subscribers in the first quarter of 2022 — his first loss in over a decade – and fell around 1 million more in quarter two.

The company’s problems have raised concerns that video streaming is dying out, but research suggests there’s still plenty of life in the industry.

A Possible research by Hub Entertainment Research estimated that 89% of US consumers subscribed to a streaming service in 2022 – an 11% increase from the previous year.

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“Netflix’s subscriber loss in the first quarter of 2022, and expected losses in the following quarters, represent a small portion of the global subscriber base,” said study co-author Peter Fondulas.

“And in fact, a service as ubiquitous as Netflix only has so much room left to grow at one point. In our view, it would be a serious mistake to view the Netflix experience as a sign that streaming TV services are about to decline, as some analysts have suggested.”

Other studies have uncovered further reasons for optimism. For example, Antenna found that first quarter US subscriptions rose in the Premium SVOD (Subscription Video On Demand) category 4.0% quarter-on-quarter and 24.7% year-on-year — despite Netflix’s losses.

Antenna Observed 37.4 Million New Premium SVOD Subscriptions in Q1'22