UK households are cancelling streaming service subscriptions, citing the need to cut comforts to afford increasingly expensive necessities such as food and fuel.
Netflix, which has spent the last decade cementing itself as one the the UK's top streaming services, is often seen as a bellwether for the entertainment industry. And so its forecast for falling subscriptions numbers earlier this year already had the market spooked. Netflix went on to announce a second-quarter loss of nearly 1 million subscribers worldwide in July, beating predictions of a 2 million subscriber decline but still the biggest fall in the company's history.
