Online streaming service NETFLIX had lost 130K+ subscribers in the 2nd quarter of 2019. This is the first-ever major loss of Netflix. Report from TechCrunch sys the change of PREMIUM Package price hike was the major reason behind this.
American giant service NETFLIX has predicted they loose around 5M+ subscribers in the second quarter of 2019. Hike in price was the major reason behind this huge loss. In addition, the lack of Netflix Originals on the platform was the other reason.
Recalling the past, the company decided to raise the subscription plans in early January this year. Firstly noticed by TECHCRUNCH this drop is the first-ever diminution in the history of Netflix. The change of premium plans affected both old and returning users. In result, the platform ended up to lose a chunk of U.S Subscribers.
Hastings, in a letter to investors, expressed that their missed conjecture was spread over the locals. In the end, the effect was seen in the regions where the subscription prices were increased.
Hastings further included that he doesn’t accept that challenge was a factor, particularly on the grounds that there hasn’t been a material change in their focused scene during the second quarter of 2019. Their entrance in differed areas has likewise been fruitful, in contrast with its opponents.