Apple TV+ competitor Netflix on Tuesday reported a loss of 200,000 subscribers during the first quarter — its first decline in paid users in more than a decade — and warned of deepening trouble ahead. The company’s shares cratered more than 35% by 8:30 a.m. PST.  A NASDAQ chart below proves this out.

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Netflix is forecasting a global paid subscriber loss of 2 million for the second quarter. The last time Netflix lost subscribers was October 2011.

“Our revenue growth has slowed considerably,” the company wrote in a letter to shareholders Tuesday. 

Netflix predicted that they would gain 2.5 million subscribers for Q1 2022 and reality is that they lost 200,000 subscribers, which makes their stock price drop understandable. It was a massive miss by Netflix. For more, read the full CNBC report.

The BBC reported that "Netflix has hinted it will crack down on households sharing passwords as it seeks to sign up new members following a sharp fall in subscribers.

Opinion: Netflix content quality has been on a downward spiral for some time. The increase in foreign content has been dramatic, with many shows only providing sub-titles. While all content titles are in English to sucker viewers in, many titles are in fact in other languages. Why waste our time pretending it's an English film or series and then surprise us with the fact that it's foreign language content.

Netflix continues to invest in movies that are 7-10+ old which does little for adult subscribers who have already rented these movies. I for one will be dropping Netflix at the end of the month. I'll take a subscription maybe 2 or 3 times a year and catch up on what I missed and then drop them again because there's not enough quality programming to keep an annual subscription.

Will Netflix listen to customers and push for more quality American series and force foreign films and series to offer English dubbed content. There's been some great foreign series from Denmark and Korea that offered English dubbing that I've enjoyed. So it's not foreign content that's the issue, it's the lack of offering English dubbing for their largest market the USA.

Will Netflix ignore consumer beefs with content erosion or will they continue to blame household sharing passwords as an excuse? Only time will tell.

In contrast, Apple TV+ is beginning to stream a lot more quality original programming in 2022 and over time this will begin to win over more subscribers. With Apple TV+ being the first streamer to have won an Academy Award for best picture, CODA, Apple TV+ is winning more subscribers and attention in the press.