Netflix loses subscribers amid cost of living pinch

<p>Netflix has&nbsp;lost 200,000 subscribers in the first quarter of the year, sending the company’s shares plummeting.</p><br><p>The streaming giant reported a drop in subscribers for the first time in a decade, <a href="https://www.standard.co.uk/business/netflix-40-billion-subcriber-drop-advertising-b995210.html" rel="noopener noreferrer" target="_blank">causing shares to plunge 27% in pre-market trading</a>. </p><br><p>Market research firm <a href="https://www.kantar.com/inspiration/inflation/cost-of-living-crisis-bites-uk-streaming-market-shrinks" rel="noopener noreferrer" target="_blank">Kantar</a> claims it’s partly down to the cost of living crisis in the UK, as people try to save money by cutting out subscription services.</p><br><p>The Evening Standard's Consumer Business Editor Jonathan Prynn discusses the drop in subscribers, how big a part the cost of living crisis has played in that drop, and what other factors are at play.</p><br><p>In this episode:</p><p><br></p><ul><li>Why has Netflix suffered this loss in subscribers? (0.57)</li><li>How the cost of living crisis has impacted the streaming service (1.45)</li><li>How volatile the market is for streaming giants (2.47)</li><li>Has the Netflix price hike caused people to unsubscribe? (4.07)</li><li>Will this boost the competition between streaming giants? (5.01)</li><li>Could streaming services drop their prices to claw back customers? (6.11)</li></ul><p><br></p><p>Follow us on <a href="https://twitter.com/EveningStandard" rel="noopener noreferrer" target="_blank">Twitter</a> for more news @EveningStandard</p><br><p><br></p><br><p><br></p><br /><hr><p style='color:grey; font-size:0.75em;'> See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for privacy and opt-out information.</p>