Live updates: What is happening to Netflix in 2022?
It’s been a bad year for the streaming giant “Netflix” from the beginning of 2022; it kept facing a series of unfortunate events.
From losing subscribers, marketing failure, and staff layoffs, many incidents have happened from the beginning of the year until now.
Let’s go through Netflix year from the start of 2022 until now:
In January 2022, Netflix raised its monthly prices in the US and Canada.
In April 2022, Netflix started to lose subscribers for the first time in a decade; it reported that it lost more than 200,000 subscribers while the company was expecting to add 2.5 million subscribers in the first quarter of the year.
The suspension of its business in Russia cost it 700,000 subscribers, and without that loss, Netflix would have added 500,000 global users.
In the united states and Canada, the company lost 600,000 customers due to the last price change.
In May 2022, Netflix layoff about 150 Employees (Mostly US-based employees ) amid a slow down in the company’s revenue.
In June 2022, Netflix laid off another 300 employees after failing in marketing and losing more subscribers ( it mainly affected US-based employees).
In July 2022, Netflix teamed up with Microsoft to offer a cheaper subscription plan to customers that will show adverts after losing more subscribers and due to the massive competition from other streaming companies like Amazon Prime, HBO Max, Apple TV, and Disney plus, especially now that Disney plus launched it services in MENA region with a fair subscriptions prices and richer content.
Today, July 22, Netflix announced that it lost almost one million subscribers from the beginning of the year until now. The subscriber losses reported on Tuesday were the biggest in the firm’s history, with the US and Canada seeing the highest number of cancellations in the past three months, followed by Europe.
It’s known that Netflix was launched on August 29, 1997, in Scotts Valley, California, USA, founded by Reed Hastings and Marc Randolph. it offers a film and television series library through distribution deals as well as its productions, known as Netflix Originals
.As of March 31, 2022, Netflix had over 221.6 million subscribers worldwide,[ including 74.6 million in the United States and Canada, 74.0 million in Europe, the Middle East, and Africa, 39.9 million in Latin America, and 32.7 million in Asia-Pacific.
It is available worldwide aside from Mainland China, Syria, North Korea, and Russia. Netflix has played a prominent role in independent film distribution, and it is a member of the Motion Picture Association (MPA).
All that happened, and we’re still in July; what will happen next? of course, we will keep you updated; stay tuned.
For live updates, click here.
