Slump in number of new Netflix subscribers
By David Wood | 11th October 2023
The fewest number of UK subscribers joined Netflix last year in a decade.
The slump was blamed on the cost-of-living crisis and life returning to normal after Covid, according to the Daily Mail.
The streaming platform's UK division only grew its user base by 4% in 2022 - despite enjoying yearly growth rates of around 20% in previous years.
Netflix had seen numbers boosted by the Covid lockdowns when Brits were forced to stay at home with series such as Stranger Things and The Crown.
But as households felt the pinch last year following Russia's invasion of Ukraine, fewer viewers signed up for Netflix accounts.
Netflix boasts almost 15 million subscribers in the UK after launching here in 2012.
Revenues lifted 12% to £1.54bn compared to £1.38bn in 2021.
UK customers paid an average of 14% more a month last year when compared to what they paid in 2021.
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