Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Have we had enough of Netflix?

Have we had enough of Netflix?

Trying to watch some of Netflix's more recent series all the way through, says Paul Weiner, feels a bit like cramming frankfurters down your throat in a hotdog eating contest.

Readers outside the US may not share the American enthusiasm for competitive hotdog swallowing. But maybe they can relate to the feeling.

We've all spent the last few years, the last two especially, binge-watching, indiscriminately, too mesmerised to click the off-button.

Are we maybe just a little bit sick of it?

That's the fear seizing executives in Netflix's boardroom right now. That Mr Weiner, a 28-year-old artist from Denver, Colorado, who loved the streaming service at first, especially for watching old favourites like Star Trek and The Office, typifies a new mood. That after years of skyrocketing subscriber growth, people will switch off, not just their television sets, but their direct debits too.

Mr Weiner is one of the hundreds of thousands who have already cancelled, prompting a moment of high drama for the company this week as its share price plummeted and confidence in its future wobbled.

People have begun to ask whether Netflix's star, as the world's largest streaming service, is beginning to fade.

Paul Weiner has cancelled his Netflix subscription as he was not a fan of its original shows


"Netflix lost some of my favourite shows," says Mr Weiner. "And I never know which show will disappear next."

He thinks there's more clickbait than there was - enticing teaser clips that don't live up to expectations - and some poor writing.

"There are better streaming deals than Netflix right now," he says.

Netflix was the first to introduce households to TV-on-tap in 2007, entering popular culture with its avalanche of output, and even spawning the phrase "Netflix and chill" as a euphemism for staying in to have sex. But since then many other streaming services have followed Netflix's lead, including HBO, Disney, Apple and Amazon, making it an increasingly crowded market.

"What made Netflix so popular initially was not necessarily its original programming, but the shows it licensed from other production companies, like Friends, giving viewers one convenient place to watch everything they love," says entertainment journalist Tufayel Ahmed.

"With companies now taking their shows off the service and putting them on their own streaming platforms, Netflix faces the problem of having to fill the gap."

They've done that, launching some hugely successful original output, from the lurid regency romp Bridgerton to the brutal Squid Game, high school comedy Sex Education to the touching drama Afterlife. Sixteen million people signed up in three months at the start of 2020 as coronavirus spread the world and discussing the dubious morality of Tiger King or the historical accuracy of The Crown was a way to switch off from the horror show of the news.

But with so many rivals, "all of which are pouring hundreds of millions of dollars into competing with Netflix", says Mr Ahmed, it was almost inevitable the company would eventually lose some ground.


Mark Mulligan, media analyst at MIDiA Research agrees, pointing to a trend for "savvy switchers" to skip between services.

"Everyone had more time and cash during the pandemic which meant the market was artificially buoyant," he says.

But now he thinks: "The economy for people's attention has peaked and the amount of spare time people have has run out".

Tiger King provided a shared distraction in the early days of the Covid-19 pandemic


There is also a cost of living crisis to contend with, right around the world. And Netflix, rather than lowering prices has raised them, a move that should help shore up the balance sheet, but has proved unpopular with subscribers, who are themselves feeling the pinch, like 38-year-old Natalie Walters from Catford in South-East London.

She hasn't cancelled, but she's switched from the premium service, which in the UK costs £15.99 a month, to the standard version at £10.99.

"It becomes about choosing what you keep and what you have to cut down or get rid of altogether," she says.

Natalie Walters said the recent increase in Netflix subscription price was "unreasonable"


And 55-year-old Peter Biggins, a coordinator from Norwich has done the same.

"I've been with them from the beginning. They have some good shows, but they're not the only player in the market now," he says.

And he's not a fan of the other plan Netflix is reported to be contemplating: cracking down on customers who share passwords with other households.

"If Netflix is going to go after people who have a subscription, they're going to annoy them," Mr Biggins predicts. And it may not have the outcome they're hoping for.

Aram Asai Munoz, a law student in Santiago, Chile, has shared a Netflix account with his parents and sister, who live in separate households, for several years.

Since he first signed up - eager to tune in to crime drama Better Call Saul - the monthly cost of the service has roughly doubled, he says.

Many of his friends have already cancelled over the price hikes and quality of content and he says he might well do the same if the firm does clamp down on password sharing - after all Netflix is a "frivolity" compared to the other bills that need paying, he says.

"Netflix somehow expects that by forbidding password sharing people will become direct new customers, but economic reality dictates the opposite: they will simply walk away from the service," he says.


While unpopular with customers, the new strategy of raising prices and clamping down on password sharing could give the company some headroom, says Julian Aquilina, senior TV analyst at the media research firm Enders Analysis, alongside a plan to offer a cheaper service supported by advertising.

But the impact will be limited. A survey of US Netflix users found only 11% used a shared log in. Some 85% were paid subscribers and the rest were on free trials, Kagan Consumer Insights found.

That doesn't mean Netflix is about to lose too much ground, though, Mr Aquilina says.

"It is not like it is going to fade away anytime soon. It is a great product, people like using it," he says.

"The question is, how many more people it will reach in the future. Maybe it won't be as much as people expected - it seems those expectations are being reset."

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Senate Scrutinises AI-Driven Personalised Pricing
Spain Seeks Mainland Transfers for 1,100 Children Stranded in Ceuta
Spain and Morocco Trade Blame After 72,000 Migrants Enter Ceuta
AI Is Remaking the US Economy, From GDP Growth to iPhone Prices
Europe’s Heat and Drought Are Now Disrupting Power, Shipping and Tourism
Europe’s Drying Rivers Trigger Power Cuts, Factory Shutdowns and Wildfire Emergencies
Record-Low Danube Forces Nuclear Cuts and Emergency Power Curbs
Danube Drought Forces Hungary’s Paks Nuclear Plant Into Full Shutdown
Ceuta Death Toll Rises as Spain and Europe Clash Over Border Response
Valued at $109 Million: F-35B Fighter Jet Crashes in Southern California
Record-Low Danube Exposes Probable Mammoth Remains in Bulgaria
US Says It Has Carried Out Heavy Strikes on Iran After Attempted Attacks on Its Forces
The AI User Nightmare: Private Claude Conversations Leaked to the Internet
Over 24 Hours in the Air: Qantas Airbus Completes Record-Breaking Test Flight
Massive Wildfires Ravage Southern Europe: Fatalities in Greece and Evacuations Across France, Spain, and Turkey
Nvidia Reportedly Takes Vast Texas Data-Centre Lease to Underwrite AI Expansion
FIFA’s Private-Investment Plan for World Cup Rights Draws European Revolt
Apple Briefly Crosses Five Trillion Dollar Valuation as Investors Retreat From AI Bets
Fresh Heatwave Threatens to Rekindle France’s Historic Wildfire Crisis
Following OpenAI's Cyberattack: 'Most Companies Still Do Not Understand What Is Coming'
OpenAI Sued After ChatGPT Allegedly Discouraged Emergency Care Before Near-Fatal Embolism
Miliband Sets Climate and International Law at Centre of UK Diplomacy
Czech Central Bank Governor Rejects Early Euro Entry and Rate-Cut Pressure
Trump Readies New Tariffs as Temporary Global Levy Nears Expiry
Vivienne Westwood Casts Cicciolina, 74, in Its New Autumn Campaign
Dejavu: Germany’s Military Expansion Reshapes Europe’s Strategic Balance With France
Morgan Stanley Builds a Wall Street Lead in AI Infrastructure Finance
High Prices Push Coffee Drinkers Toward Whole Beans and Home Brewing
Trump Draws Boos and Podium Scrutiny at Spain’s World Cup Triumph
Brilliant move: Péter Magyar Moves to Nominate Chess Grandmaster Judit Polgár as Hungary’s President
Spain Defeats Argentina in Extra Time to Win Second World Cup
Current AI Seeks to Build an Open Global AI Infrastructure Outside Big Tech Control
Germany’s Economic Malaise Reopens the Sunday Shopping Debate
Proposed U.S.-Saudi Nuclear Pact Could Permit Limited Uranium Enrichment Under International Safeguards
Netherlands Declares Water Shortage Emergency After Drought Pushes Rivers to Historic Lows
Why Kentucky Fried Chicken Became KFC—and Why the False Explanations Persist
Ukrainian Drones Strike Wildberries Warehouses Deep Inside Russia
Reported CIA Mission Helped Clear the UAE’s Path to Advanced US AI Chips
Artificial Intelligence Capital Fuels Markets While Governments and Regulators Face Mounting Strategic Tests
China’s Moonshot’s Kimi K3 Narrows the Gap With Anthropic Through Scale, Openness and Lower Cost
The Ledger Will Not Trust on Faith
Trump Administration Pressures Banks to Restrict Financial Access for Undocumented Immigrants
Passenger Bound for Germany Refused to Sit Beside a Woman on a Plane — Then Slapped a Flight Attendant
Ukraine’s Leadership Rift Spills Into the Streets as Protesters Target Army Chief
Ukrainian Drone Barrage Kills Eight and Strikes Russian Logistics Network
The Ten World Cup Finals That Defined Football History
Smartphones Are Getting More Expensive, Sales Are Collapsing, and Even Apple Admits: "Prices Will Rise"
The Monaco Bombing Has Become a Test of Ukraine’s Intelligence Accountability
Leadership Change and Strategic Rivalry Redraw the Political Map
The AI Race Enters Its Infrastructure Era
×