Netflix subscriber growth is starting to slow down considerably
We already knew that Netflix would struggle to grow its subscriber base as fast as it used to when other new high-profile streaming platforms like Disney+ and HBO Max entered the market. After all, there is only so much money to go around and people need to become increasingly fickle in choosing a streaming platform to subscribe to.
While Netflix had long predicted that it expected its subscriber growth to slow, it appears the pace of the slowdown, if the past quarter is anything to go by, is perhaps more extreme than anticipated. With the company crossing over 200 million subscribers at the end of 2020, Netflix was hoping it would be able to top the 210 million mark by the end of this last quarter, but it seems that the company could only add a further 4 million subscribers, as announced in its Q1 2021 earnings release.
Any growth for a company that has by far the most subscribers around the globe is nothing to be sniffed at, but it does show the increasingly difficult task that Netflix has in front of it to keep growing its subscriber base. A task that will only get more difficult post lockdown, which did see an increase in the numbers of people turning to streaming services to get an entertainment fix.
At least the company isn’t losing subscriber numbers yet, but that could also change if the number and quality of shows across the other streaming services pick up. On the plus side for the rest of us, it means that competition for quality content is only likely to increase, though we will still be sadly stuck with too much of it that we can’t watch because we can’t afford all of the streaming services at the same time.