Netflix Is Dying, Here’s How To Fix It

Netflix is down billions and is now one of the worst-performing stocks in the S&P 500, but can it be saved?

Many people think there’s no turning back for Netflix, but I’m here to offer a solution in this article, and no, it isn’t introducing ads or removing password sharing.

 

Why Are People Leaving?

Netflix is one of the darling children of tech. After all, it is the “N” in “FANG.” So how did one of the top tech companies fall from grace? Well, I believe there are three main reasons.

Bad Content

In the past, Netflix was known for releasing blockbuster TV hits, like House of Cards, Stranger Things, and You. But recently, it seems their releases have been lackluster at best. The only major hit I can remember in recent times is Squid Game.

More Competition

For the longest time, Netflix was the only streaming service in town. But now, Forbes estimates there to be more than 50 streaming services.

No Customer Loyalty

A recent survey from The Information showed that 13% of total cancelations were from people who had been subscribed for more than three years.

 

 

the information stats netflix
Source: The Information
 

 

The Solution

First, if Netflix introduces advertising, I think this will hurt them more than it will help them, judging by the reaction I’ve seen about this online.

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So instead of that, here are three things I would do.

 

Less Content

More content might seem great, but when you have an entirely new show coming out every day, it becomes benign, and people never look forward to anything. If you reduced the amount of content coming out, it would give people mental space to look forward to these shows. Not to mention this saves Netflix a lot of money.

Episode Release Schedule

Some people might not like this, but hear me out. How much of it did you remember when you binge-watch an entire TV show? Do you remember if you enjoyed it? Yea, me neither!

One of my favorite experiences was watching Game of Thrones. I would discuss recent episodes with friends, theorize about what would happen in the next episode, and watch youtube videos about it online. This is because of HBO’s release schedule. It gives you time to take in each episode and look forward to the next.

An episode schedule gives content creators more to talk about each week, increases the hype around a show, and draws new eyes to Netflix.

Customer Loyalty

Based on the recent statistics, Netflix needs to treat its long-time customers better. I think introducing a loyalty program would be a great idea. Maybe you get access to a secret swag store or get access to exclusive content. I think there should be some perks to being a long-time customer.

 

Maybe this will work, maybe it won’t. I’m just some guy with a few ideas, But I think it’s better than ads or removing password access.

 

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