Netflix in a tight spot as Paramount+, Prime Video attract UK subscribers: Report

Netflix is facing a slump in UK viewership as the streaming giant lost a significant number of new subscribers to rivals Paramount+, Prime Video, and Disney+, reported The Guardian.

The report cited Kanter Worldpanel figures, that painted a dismal picture for Netflix, Paramount+, Prime Video, and Disney+ added on the vast majority of new subscribers in the third quarter, 29.4%, 24.6%, and 17.5%, respectively, while Netflix drew in mere 2.1%

Netflix is betting on its newly unveiled £4.99-a-month Basic with Ads package, which will roll out in the UK on 3 November and set in a new wave of subscribers.

“Generally speaking Netflix loyalty has held up relatively well in a pretty tough market, but it is starting to see churn levels rise,” said Sunnebo.

“But the biggest problem Netflix is really struggling with is attracting new subscribers. Netflix needs to gain new customers, not just manage to stop them leaving.”