Netflix actually losing long-term paid subscribers: Report

San Francisco/New Delhi: Netflix is fast losing long-term subscribers — who have been with the streaming service for more than three years – further adding to its woes as the company faces stalled growth amid revenue slowdown.
According to a survey report by The Information, new data show that people who have been subscribers to Netflix for more than three years accounted for 13 per cent of cancellations in the first quarter this year.
The Information received data from US-based analytics firm Antenna.
The data showed that overall cancellations hit 3.6 million people in the January-March period – a massive jump from 2.5 million cancellations in the past five quarters.
Amid the cancellations, new accounts make up for a smaller share, another worry for Netflix that is struggling to retain users for longer periods of time.
Nearly 60 per cent of cancellations were done by new subscribers in the last quarter, according to the report that came out on Wednesday.