Millions of US Subscribers May Drop Netflix Next Year
Millions of US Subscribers May Drop Netflix Next Year.
Wall Street brokerage Needham and Company says the streamer may lose up to four million users.
The firm explains that it will be due to the introduction of more competitors.
Four Wall Street firms in the past couple months have cut ratings for Netflix.
To better compete, analyst Laura Martin says Netflix needs to introduce a cheaper option for users.
Netflix’s premium price tier of $9 to $16 per month is unsustainable, Needham analyst Laura Martin, via Reuters.
Martin adds that the upcoming loss of popular content such as 'The Office' further hurts Netflix.
Netflix reported just over 60 million subscribers in America at the end of 2019's last quarter.
Content produced by the streamer has also landed dozens of nominations for the 2020 Golden Globes