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Number of Netflix subscribers fall 31% in the U.S. due to strong competition

The arrival of new players and the consolidation of other major platforms such as Disney+, HBO Max, and Apple TV+ are impacting Netflix’s market share in the US.

Number of Netflix subscribers fall 31% in the U.S. due to strong competition

Netflix faces increasingly stiff competition in the streaming world due to the arrival of new players and the consolidation of other major platforms such as Disney+, HBO Max, and Apple TV+.

These powerful rivals have caused the service that was born as a DVD rental alternative in August 1997 to fall back 31% in the United States, according to a study by the consulting firm Ampere Analysis published by The Wrap.

Netflix falls 31% in the U.S. due to strong competition
Number of Netflix subscribers fall 31% in the U.S. due to strong competition

Nevertheless, the on-demand content giant remains the leader with some 74 million subscribers in the US, which added to customers in other countries exceeds 203 million worldwide.

In its Q4 2020 earnings report, the company announced that it had surpassed 200 million subscribers for the first time, as its shares soared nearly 20% in one day, the biggest jump since 2016, with a rise in market capitalization to nearly $260 billion.

In 2020, Netflix added 36.6 million subscribers as global COVID-19 confinements forced people to stay home.

At the end of last year, the majority of subscribers, or nearly 74 million were from the United States and Canada. Europe, Middle East, and Africa ranked as Netflix’s second-largest market with 66.7 million subscribers.

It was followed by Latin America and the Asia Pacific with 37.6 million and 25.5 million Netflix subscribers, respectively.

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