Netflix has been a popular application for many years. Almost everyone you know surely has Netflix downloaded on some device. It’s had such success that many different shows and movies have been produced and filmed by Netflix. They have shown they’re capable of handling tons of series and movies on their platform, and therefore they have had great success over the years. However, something recently went wrong, and it’s causing a major downfall in the company.
First off, let’s introduce the company to those who don’t know about it. Netflix was founded on August 24th, 1997, in Scotts Valley, California. The inventors of this huge company are Marc Randolph and Reed Hastings. Hastings stated that the idea sparked from a $40 fine he got for renting the movie Apollo 13 from Blockbuster and returning it around six weeks late. This small incident turned out in creating one of the most successful companies in the world, earning more than a total of 5.12 billion dollars in the last year. Their fame and success have grown so much, which is why it’s weird to find out they’re losing money lately.
Of course, like Netflix, there are other companies that have movies and series to display for their audience. Some of these other companies are Amazon Prime, Movies 123, Disney Plus, HBO Max, and many other more. They include a variety of movies and series, and they even have some films that Netflix might not have. This has helped them gain popularity and a bigger audience. Unfortunately for Netflix, this has driven away customers. Another thing Netflix subscribers like to do is share accounts with friends and family, which also decreases the number of subscribers that Netflix has. Because of all of these aspects, Netflix has been in a terrible decline lately, and solutions are yet to be found.
Netflix has announced that they have been losing subscribers and money over these past months. They’re extremely disappointed by this tremendous loss and are still trying to find ways to fix this problem. Their major issue right now is that they don’t have in-display the most recent films, and many people have driven away from the app. Their partnerships have also gotten worse over time, and they partnered with celebrities like Addison Rae who don’t produce the best quality movies/series.
Hope is still not completely lost. Because of the popularity and the loyal subscribers Netflix has, there’s still a chance they get back on top and gain all the money they have lost. The decision is up to the customers to decide if Netflix is still worth paying. If it were up to you, would you give Netflix another chance?