The numbers are in, and they don’t look great for the largest streaming service in the world. According to a new report of all of the streaming on the market, Netflix was the most-canceled. This is a bit worrying, seeing as the company did add on 7 million subscribers in the fourth of 2022.
People cancel streaming services; it’s just life. The struggling economy already means that most people have less disposable income. This, coupled with the fact that streaming services across the board are upping their prices means that people are bound to drop their streaming services at some point.
Netflix was the most-canceled service in late 2022
While people canceling their services isn’t anything out of the ordinary, Netflix stood out above the rest of the services. A new report from TiVo (via The Streamable) shows us the top eight streaming services to be canceled in Q4 2022, and Netflix is winning by a large margin.
Of all the cancelations that happened in Q4 2022, 27.3% were from Netflix. This is major seeing as none of the other companies even tapped 10%. In second place, we have Hulu with 9.1% of the cancelations. This could be due to the recent price hike that took place a few months ago.
Then, we have Amazon Prime Video (8.4%) followed by Apple TV+ (8.1%), Paramount+ (5.9%), Disney+ (5.8%), HBO Max (4.7%), and Discovery+ (3.8%).
Netflix’s woes could be because of the password crackdown
Well, you know what they say “The bigger they are, the harder they fall.” Netflix has been the biggest streaming service since it began, but the streaming giant has been stumbling as of late. People have been dropping the service in droves, over the past year for a myriad of reasons, and there doesn’t seem to be anything that the service can do to stop it.
Instead of making the platform more user-friendly, Netflix has, instead cracked down heavily on password-sharing. The company has restricted people from using the same password if they live in a different house than the account owner. If the user wants to add on another account, they’ll have to pay more each month.
This comes after the company raised the price for the service last year. So, to most people, it seems that Netflix is looking to squeeze every dime out of its users. This is definitely one of the main reasons why it’s the most-canceled streaming platform.