It is a basic formula in the television business: make a hit show, renew it and lock in ever bigger audiences. But Netflix, which has spent more than 20 years upending the rules of the entertainment business, may have found a way to defy even this convention.
This spring the streaming service will roll out the latest, highly awaited instalments of two of its most popular series, Ozark and Stranger Things. Yet instead of a boost to its subscriber base, Netflix said this week it expected to lose about 2mn paying customers in the coming months, thanks to a combination of intensifying competition, a maturing US market and its decision to increase prices at a moment when consumers are coping with rising inflation.
