It looks like Tim Burton’s Wednesday and Rian Johnson’s Glass Onion: A Knives Out Mystery were not enough to fully boost the number of Netflix subscribers. Despite the clear success of both titles, the streaming giant is forecasting its worst fourth-quarter subscriber growth since 2014.
Ahead of the 2022 Q4 earnings call, which is scheduled for this Thursday (Jan. 19), Netflix has predicted that it only raked in another 4.5 million subscribers — its worst number since 2014, when it had only grown by 4.3 million subscribers, according to Bloomberg.
The measly number follows four of its best fourth quarters with 8.8 million new subscribers in 2018 and 2019, 8.5 million in 2020 and 8.3 million in 2021.
The predictions come just a couple of months after Netflix released its ad-supported tier. While CEO Reed Hastings was previously adamant the company would not be presenting ads in streaming, he had a change of heart when the company reported its first loss in subscribers in over a decade last spring. The $6.99 per month ad-supported plan became available alongside the $9.99 per month ad-free plan in November.
However, Netflix found itself in a precarious position only one month after the ad-supported tier dropped as it wasn’t delivering the full advertising audience it had promised. As a result, the company gave advertisers the option to take back their money for ads that had not yet run.
The streaming platform has also been headstrong in cracking down on password sharing. In October 2022, it launched Profile Transfer, which makes it easier for people to transfer their profile from an existing account to their own, separate account that they pay for. And in November 2022, the streamer released a feature called Manage Account Access and Devices, which allows users to log out of their accounts remotely.
Aside from these initiatives, Netflix has also managed to anger subscribers by canceling some of their favorite shows, including 1899, leaving many furious fans to blast the company on social media.
Meanwhile, some users pointed out what flaws could have contributed to the streamer’s lackluster subscriber growth.
“Maybe if they stopped making unreasonable, financially driven choices and stopped cancelling shows,” one wrote, while another suggested, “Maybe they should: Add better content, stop cancelling popular shows and quit worrying about which friend or relative has my password.”
Only time will tell if Netflix is willing to take its audience’s suggestions into consideration. In the meantime, you can view the full earnings report when it releases on Thursday, Jan. 19.