Source: The Verge
Netflix's retention is deteriorating. Viewers abandon shows mid-season across genres, and content volume alone no longer justifies subscription costs as competition fragments viewing habits. The company's pivot to advertising and paid sharing signals an internal acceptance that churn is structural, not cyclical—a shift from growth-at-all-costs to extracting more revenue per user. This reveals a gap in streaming's original promise: a single subscription replacing cable with everything audiences want. Instead, audiences now juggle four to six services to find something worth watching.