Netflix Inc.’s troubles seem to be running deeper. The streaming giant is reportedly losing the support of its longtime subscribers as it tries to pull out all the stops to turn around its fortunes.
What Happened
Netflix subscribers who have been with the company for over three years made up 13 percent of those who canceled subscriptions in the first quarter, the Verge reported on Wednesday, citing the Information.Survey data viewed by the Information showed that longtime subscribers accounted for just 6 percent of cancellations in the second quarter of 2021, and those subscribed to the service for less than a year made up 70 percent, as per the report.
