This the first time this decade that Netflix lost as many as 2 million followers in a single quarter. It is estimated that the OTT giant will lose another 2 million followers in the second quarter of 2022 as well.
In view of the downward spiral, Netflix Global CEO Reed Hastings has announced that the company is ready to introduce cheaper subscription plan for the users. He had previously stated that Netflix’s stagnant graph in India is “frustrating”.
One of the main complaints about Netflix is the lack of cornerstone-worthy regional films and series. This is the area where Amazon Prime is scoring heavily, thanks to shows like The Family Man, Mirzapur, and others.
Even when it comes to the Telugu OTT space, Amazon Prime had always been the frontrunner when it comes to bagging biggies. ZEE5 and Disney+ Hotstar have also been upping the ante in this regard. But Netflix is clearly lagging behind.
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