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What goes up must come down. That old aphorism is likely ringing heavily in Netflix executives’ ears as the company’s share price is hammered by investors after some rough Q2 numbers. Although globally Netflix has surpassed 150 million subscribers, the streamer saw its U.S. subscriber count drop for the first time in its history. Ouch.

Subscriber counts weren’t the only thing that dropped for Netflix last quarter, as profit dropped by more than $100 million compared to the same quarter in 2018. Overall revenue was up to nearly $5 billion, but that climb couldn’t offset the expense of decreasing U.S. subscribers and increasing content costs.

To compound the bad news, Netflix has recently revealed that it is set to lose two of its most popular shows, Friends and The Office, to other streaming services in the coming months. The company claims, however, that competition was a major cause of its troubles last quarter.

Said Netflix:

“We don’t believe competition was a factor since there wasn’t a material change in the competitive landscape during Q2, and competitive intensity and our penetration is varied across regions . . . Rather, we think Q2’s content slate drove less growth in paid net adds than we anticipated.
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Netflix hopes Q3 will be much better for it. Do you agree, or are we seeing the beginning of some long-term struggles for the OG streaming company?

2 Responses to “Netflix Posts First-Ever U.S. Subscriber Decline”

  1. Visitor [Join Now]
    Kone [visitor]

    Maybe it’s because they are putting more of there own crap on.
    And taking the good stuff off. You think?

  2. Visitor [Join Now]
    tinybrat [visitor]

    There are multiple reasons…

    1. Its summer. People are traveling and outside, therefore getting rid of their subscriptions

    2. Netflix content has become mundane and old. The fact that Friends and The Office are leaving, hello? Those are on multiple channels on tv for free. Oh and they are 20-30 years old.

    3. There are multiple other streaming services and people are cutting ones that they don’t use in order to pay for others. Wait til Disney Plus launches in a couple months. People who pay $10 for Netflix for kids shows will probably gladly give that up for Disney at $6.99