Subscribers Are Finally Fed Up With Netflix's Price Hikes, Survey Suggests
It's been a troubling year for Netflix (NASDAQ: NFLX), as the streaming video pioneer shed a total of 1.2 million subscribers during the first six months of 2022. On its second-quarter earnings call, management suggested that the worst was over, with churn returning to "pre-price-change levels." A survey of viewers in the U.S. paints a very different picture, however, suggesting that the streaming pioneer could lose a large number of its paid subscribers by year-end.
Let's look at the reasons viewers gave for considering the change, how intentions might differ from reality, and what it all means for investors.
A recent report suggests the pain is just beginning for the streaming pioneer, which could have serious ramifications for Netflix shareholders. A survey of 1,000 Americans found that roughly 25% of respondents said they plan to quit Netflix this year, according to a report by Review.org. That suggests the streaming giant could be at risk of losing as many as 18 million subscribers by year-end.
Source Fool.com
