Despite the launches of new streaming apps including Apple TV+, HBO Max, Amazon Prime and Disney+, Netflix is still the most popular streaming platform in the world, with around 222 million subscribers globally.
But although it remains at the top spot, the streaming giant has been struggling recently as it was revealed in July that Netflix had reported a loss of 1 million subscribers during the second quarter of 2022, which was its second quarter with a loss of subscribers.
Netflix was able to revolutionise the television industry when it launched, with a new business model that provided a streaming service allowing users to binge watch TV series all at once and enjoy them without adverts.