Netflix is preparing to make a radical change for its video-on-demand streaming platform, being forced by a huge problem that no one has anticipated until now. It seems that in the following days those from Netflix will announce the lowest quarterly number of new subscribers in the last 10 years, analysts estimating that only 1 million people decided to create an account on the platform in the second quarter of this year.
Netflix has here a colossal problem that no one anticipated, especially in this period that the whole of humanity is going through, but it will also bring a radical change. More precisely, Netflix failed to attract young people to the on-demand video streaming platform, the exact segment that supported the growth to over 200 million subscribers who pay monthly for access to content, the elderly audience not being interested in platform.
Netflix: RADICAL Change Generated by a Huge Problem
Netflix has a problem here because the young audience seems to be no longer interested in the content available now, even if in 2020 the company registered record increases in subscriber numbers. In Q1 2021 Netflix missed its target of new subscribers attracted to the platform, and in Q2 the same thing will happen, so that overall the streaming platform wants to make new content for the elderly audience from now on, even if a good part of this one is not really online.
"Netflix has become a victim of its own success. It's such a big market in many of its more established territories that it's already pretty much subscribed to the whole youth audience."
Netflix will have an extremely difficult job to convince people over the age of 40/50 to create an account on its platform, but to choose the right content to convince people to do so. Despite this, those at Netflix have little choice but to address more seriously those who have been largely ignored by the growth strategy that the video-on-demand streaming platform has had so far.
Netflix has methods to achieve its goals, but it will take a while until the number of subscribers increases substantially again.
