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With over 200 million global subscribers, Netflix has held its position as the top streaming service for years. Yet, at the beginning of this year, it suddenly announced a net loss of 200,000 subscribers as well as over $50 billion.

Netflix’s explanation of the events is simple. With HBO Max, Hulu, Disney+, Amazon Prime, and other streaming services, the competition is fiercer than ever. On top of that, the company has suspended services in Russia due to the war in Ukraine. That move alone cost them about 700,000 subscribers.

But the truth is that Netflix has also been making some controversial business decisions that caused subscribers to cancel. The company has started introducing stricter password sharing controls, although it has overlooked this popular practice for years. Now it wants to charge additional fees for sharing a single account password between different households, and users aren’t happy about this decision.

Aside from that, Netflix’s management is thinking of allowing ads at the lowest paying tier. Since most subscribers pay for their subscriptions precisely to avoid ads, this idea has led to backlash.

At the moment, Netflix is going through perhaps the biggest crisis since its inception.
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