Netflix is a top-tier OTT platform that is the leading provider of digital streaming services to consumers. With 221.64 million users and rising, it has the most subscribers. However, it suffered a significant setback in the first quarter of 2022, losing 200k subscribers, and forecasting a loss of 2 million in the second quarter. This year's subscriber drop is the first in the company's ten years of steady expansion.

According to Netflix, password sharing, inflation, piracy, a drop in the usage of smart TVs and broadband, and the ongoing Russia-Ukraine crisis are the major factors, due to which Netflix has shut down its service in Russia, resulting in the loss of 700,000 Russian accounts.

Netflix Inc. fell 35% on Wednesday and a further 3.5 percent on Thursday. The Nasdaq stock exchange in the United States suffered the ripple effect as well.

Aside from that, since 2014, prices have risen dramatically. It used to provide a $7.99 per month streaming option, but now it costs $15.49. Other OTT platforms, such as HBO Max, Disney+, Amazon Prime, Paramount Plus, and Apple TV+, have arisen to compete with Netflix.

Netflix still on being on the top position in streaming wars need to diversify its revenue. It must take queues from companies like Paramount Plus, HBO Max, and Disney+, who have their own theatrical options. Theme parks and other consumer products must be designed to appeal to a larger audience. The price hike should also be reduced for common people to gain more subscribers.

 The corporation estimates that there are at least 100 million unauthorized users and is working to prevent further losses by controlling password sharing and piracy. Despite challenges revenue grew by 7.8 billion in the 1st quarter years and the company's possibilities of expanding its service in the future are good.