Apparently, Netflix would have to fight tough in the OTT servicing market as reportedly, the streaming giant may lose four million subscribers by next year due to a sudden increase in the number of cheaper streaming services. Know all about the different streaming services arriving next year and how they might affect Netflix.
Reportedly, Netflix may lose some of its subscriber counts in 2020. Until now, Netflix didn't have any issues with respect to gaining or maintaining subscribers. Although there was a slight decrease in the subscriber count by the mid of 2019, Netflix's subscriber count had gained momentum in the third quarter of this year. In September, Netflix publicly announced that it had approximately 160 million subscribers all over the world. Out of which, 60 million subscribers are based in the US. The subscriber count of the US could be affected with a drop by 4 million in 2020.
When Laura Martin from Needham & Company was asked about the subscriber drop prediction in an interview, Martin said that this drop could happen only because Netflix is unable to compete for its prices with new streaming platforms like Disney+, upcoming NBC Peacock service, and Apple TV+. She added that this drop can only be avoided if Netflix drops the price of their package to compete with newer streaming services. If Netflix drops its package prices then it could introduce ad-supported tier as a backup option to compensate with the loss it would suffer for decreasing the package prices.
Netflix has started toying around with long-term subscription plans in India with up to 12-month validity. Netflix is also testing relatively shorter 3-month and 6-month subscription plans in India. If implemented, these plans may save subscribers anywhere between 20 per cent to 50 per cent depending on the plan they opt for. Netflix currently has no such subscription plans anywhere else in the world.
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