NETFLIX LOST THEIR LOYAL SUBSCRIBERS?
Who doesn't know about Netflix right now? The streaming company added it would license the rights to Universal's full-animated and live-action slate of films about four years after their release as well as the rights to other select titles. As youtube become popular for its video entertainment, so do Netflix with their paying subscription of premium access. With a stock price that has soared greater than 450% over the past five years, Netflix (NASDAQ:NFLX), the leader in streaming entertainment, has been a big winner for investors. The number of Netflix subscribers in Korea peaked at 8,993,785 back in January this year. But unfortunate report said that Netflix has lost about 1 million subscribers this year. The number of Netflix subscribers, which had grown rapidly in 2020, decreased by more than 1 million users this year. This is a sad news as Netflix become one of big company who invest on many South Korea Drama.
According to a June market research project report by Neilsen Korean Click, Netflix's monthly net subscribers (MAU) in Korea was 7.91 million in May, falling for the fourth consecutive month.
The number of subscribers has been steadily decreasing each month. In February, the number hit 8.78 million subscribers, 8,236,288 in March, 8,083,501 in April, and eventually fell to the 7 million mark last month.
According to data company Flix Patrol, the only Netflix original that ranked among the top 10 TV dramas and entertainment shows that Korean users watched most on Netflix this year is the British drama 'Bridgerton.'
In other words, the industry attributes the decrease in the number of Netflix subscribers to boring Netflix original content. There has also been a saying among the users, "Filter out the Netflix originals," as users have deemed these original content boring. In other news, Netflix's rights to stream these popular movies, which are made by Universal's DreamWorks Animation studios, will begin after a four-month window on Peacock, Comcast's in-house streaming service.
Netflix had belatedly participated in the production of content. For this reason, there has been a lack of production that has reeled in a solid fanbase. This is seen as one reason for the decrease in the number of subscribers in Korea.
owever, Netflix is set to unveil its much-popular original content 'Kingdom' series, 'Kingdom: Ashin of the North,' on the 23rd. Therefore, attention is focusing on whether Netflix will be able to overcome this crisis and regain its momentum from 2020.
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