Netflix had a very bad year. In the last year, the company lost two-thirds of its value. The streaming giant was thought to be invincible, once the envy of Hollywood and the technology world.
One in four Netflix users say they are planning to ditch Netflix this year because of pricing hikes and the high cost of living caused by the ongoing inflation.
A survey of 1,000 Americans about their Netflix habits showed that 25 percent said they planned to leave the streaming service this year. The survey conducted by Reviews.org found that 40 percent of people said they will leave Netflix due to the recently announced price rise. Nearly two-thirds of respondents cited Netflix's increasing cost as a reason for leaving the streaming service.
Netflix has the highest average plan cost among the eight most popular streaming services in the United States. 30% of the surveyed users of Netflix said they shared their passwords with people outside their household. Below is the price of Netflix versus competitors.
Netflix is getting stale. One in three respondents said Netflix doesn't have the shows they want to watch and 30% said they use other streaming services more. You can see the other two reasons in the image below.
The survey is a confirmation of a recent mini-documentary from CNBC. A video titled The Fall of Netflix was released two days ago by CNBC. In the video, CNBC talked about how Netflix went from $314 market cap to $99.77 billion today.