Subscribers to paid music platforms continue to increase their listening time. — AFP Relaxnews
Times are tough for subscription-based video streaming services, as Netflix has seen its subscriber base shrink for the first time in 10 years. This is a cause for concern for music streaming providers, who fear seeing their growth slow after two years of pandemic.
The news came as a shock – Netflix lost 200,000 subscribers in three months, while analysts expected it to gain 2.5 million. The video streaming leader explains this collapse by the war in Ukraine, but mainly by structural factors such as account sharing and competition from new entrants to the market.
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