Netflix is estimated to have lost 500,000 UK subscribers in 2022 and is expected to lose a further 200,000 subscribers in 2023, according to research by Ampere Analysis, as reported by The Guardian.
The anticipated subscriber contraction comes as the UK continues to suffer from a cost-of-living crisis that is expected to last into the new year. Netflix raised its prices in the UK and Ireland in December 2020 and again in March of 2022.
The streaming company launched a cheaper ad-funded tier in November that some marketers described as “rudimentary”.
Netflix is scheduled to release its Q4 earnings on 19 January.