Millions of Netflix fans say they will quit app this year as cost-of-living crisis bites – The Irish Sun

ONE in four Netflix users say they plan to ditch the app this year as the cost of living hits a crunch.

According to a survey, viewers are turning back for a number of reasons, including the rising cost of subscribing to the service.

One in four Netflix users plans to phase out the app this year

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One in four Netflix users plans to phase out the app this yearPhoto credit: Reuters

Reviews.org surveyed 1,000 Americans about their Netflix habits.

25 percent said they would be leaving this year.

That could mean over 18 million U.S. subscribers disappear, leaving a $272 million hole in the streaming company’s pockets.

Around 40 percent of people said they will leave Netflix because of the recently announced price increase.

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The company is increasing the cost of its Basic and Standard plan pricing by £1 per month to £6.99 and £10.99 respectively.

While customers pay an extra £2 for the premium package, which now costs £15.99.

It has proven unpopular with users who are already struggling to pay bills due to rising energy costs, record inflation and more.

Other Netflix users polled by Reviews.org said they would be leaving the company as a direct result of the cost-of-living crisis.

Almost one in five admitted they can no longer afford Netflix as their bills have skyrocketed this year.

Almost 22 percent stated that they had left the platform due to the lack of shows and/or films.

The remaining participants said they were leaving because they prefer other streaming services.

The Sun has reached out to Netflix for comment.

Many of us subscribe to multiple subscription services for music, television, movies, and more—and the costs can add up quickly.

Price increases announced by the likes of Netflix, Amazon, Sky and Virgin Media mean Brits are starting to feel the pinch.

Fans were left with no choice but to cancel services as the cost of living crisis hits households on both sides of the Atlantic.

Netflix had a tough year, losing 1.2 million subscribers in the first two quarters of 2022.

It was the first time the massive streaming service had seen a subscriber loss in a decade.

Netflix has blamed the drop on increased competition, password sharing and Russia’s war with Ukraine.

The company is looking for new ways to make money.

Last month Netflix announced that starting next year it will start charging users who share their passwords between households.

In the recent crackdown on account sharing, subscribers are being asked to spend extra to add members who don’t live with them.

In March it emerged that the streaming giant was already testing the additional fees in Chile, Costa Rica and Peru.

Users who share passwords have to shell out around £2.70/$2.70 on top of their monthly subscription fee.

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Netflix is ​​also testing a cheaper tier that will show users ads between and during TV shows and movies.

A leaked memo has indicated that this will be available as early as October.

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https://www.thesun.ie/tech/9474681/millions-netflix-fans-quit-app-cost-living-crisis/ Millions of Netflix fans say they will quit app this year as cost-of-living crisis bites – The Irish Sun

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