Netflix, the streaming video giant, recently shocked the entertainment industry by reporting a 200,000-subscriber loss in the first quarter of 2022. The company had previously predicted a 2.5 million subscriber increase during that time period.
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Why are so many Netflix subscribers abandoning the service? One major reason is the relaxation of COVID-19 pandemic restrictions; people who were previously limited to streaming video at home now have more entertainment options, such as eating out, attending concerts, or watching movies in theatres.
Inflation is also hurting Netflix. Families are cutting other spending due to the high cost of food and gasoline, and Netflix's price increase at the start of 2022 may have drawn attention to it as a potential budget cut.
The company mentioned the war in Ukraine as a major factor in subscriber loss in its Q1 2022 shareholder letter. Netflix claims that the suspension of its service in Russia resulted in a net loss of 700,000 global subscribers.
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As competitors such as Disney Plus, HBO Max, Amazon Prime, and Hulu grow in popularity, more users may consider cancelling their Netflix subscriptions. If you're ready to say goodbye to Stranger Things, Bridgerton, Russian Doll, and Better Call Saul, keep reading to find out how to cancel your Netflix account quickly.
How to cancel your Netflix subscription on your phone or tablet
On a computer, cancelling your subscription is simple (see the next section). Netflix makes it difficult to cancel your subscription on your phone or tablet, but there is a way, though you will not be using any of the official Netflix apps available on the App Store or Play Store. Instead, you'll need to use your preferred web browser to cancel your Netflix account:
1. Sign in to your Netflix account by visiting Netflix.com in your web browser. If you are redirected to the app, open the Netflix website in a private browser or incognito mode to avoid being redirected.
2. To open the side menu, tap the three-line menu in the upper left corner.
3. Tap on Account
4. Scroll down and select Cancel Membership from the Membership & Billing section. The following page will inform you that your cancellation will take effect at the end of your current billing period.
5. Then tap on the blue Finish Cancellation button to cancel your Netflix subscription.
How to cancel your Netflix subscription on your computer
On your computer, cancelling your Netflix subscription is much easier. To begin, open your preferred web browser and then perform the following steps:
1. Open browser go to the Netflix.com
2. Top-right user icon
3. Click on Account
4. Cancel Membership
5. Finish Cancellation
New Netflix subscription prices
The three-tier streaming service price hike for Netflix that was announced in January is now effective for new subscribers and is being phased out for existing Netflix subscribers. You might have received an email informing you about the price hike, but in case you didn't, here's the latest price analysis:
Netflix price plans
Old monthly price
- Basic: 9$
- Standard: 14$
- Premium: 18$
New monthly price
- Basic: 10$
- Standard: 15.49$
- Premium: 20$
Price increase
- Basic: 1$
- Standard: 1.49$
- Premium: 2$