THINKING OF CANCELLING YOUR NETFLIX SUBSCRIPTION

Netflix seems to be in a death spiral.

Yes, according to recent news articles, their share price has plunged dramatically. Not only that, subscribers (even decades long subscribers) are cancelling by the thousands. But is it really the end for this pioneering streaming platform?

More importantly, why is this happening?

Well IMHO, here are some of the reasons why Netflix is going down.

(Plus some ideas on how they can turn things around.)

1. The Binge Model

The problem with Netflix is that the platform is really a victim of its own success. One of the reasons why streaming became so popular was because you could binge watch shows. This created an entirely new dynamic compared to watching traditional TV. In fact, it was one of the major selling points of streaming.

Unfortunately, this success is also a double edged sword. The reason why is because being able to watch every episode at once, also means you don’t have to subscribe for very long.

If there’s something you’re really interested in you can sign up, watch it in a day, and cancel. Another problem is that, in order to keep up with the insatiable level of consumption, Netflix started pumping out as much content as possible. Which brings us to the second point.

2. Garbage Content

The big joke is that Netflix will green light literally anything. And this is really the problem. It doesn’t pay to pump out garbage content. It’s about quality not quantity. This is the real reason why so many people are unsubscribing. Netflix originals equal garbage and people know it. Even worse, they’ve developed a reputation for…

3. Cancelling Shows

Netflix is notorious for cancelling shows. If you search for “list of cancelled Netflix shows” you’ll discover that the platform has done away with more than 50+ shows over the years. This is a big problem if you want subscribers to stick around. You see, you need to get them invested…and…this isn’t going to happen if you immediately cancel everything.

Not only is this bad for the platform and bad for subscribers, it’s also bad for creators. If you had a killer idea for a show…and…you knew Netflix would more than likely end up cancelling you…well…would you even bother approaching them? Probably not. These issues are also compounded by the fact that they’re now facing…

4. Massively Increased Competition

Back in the day Netflix was the top dog, numero uno of the streaming world. Today there are dozens of streaming platforms. HBO Max, Hulu, Peacock, Amazon Prime, Disney+, and the list goes on (even CNN had a streaming platform for about 5 minutes.) Not only are these platforms competing with Netflix, but they’re also pulling licensed content.  And to deal with these issues Netflix is…

5. Raising Prices.

This isn’t nearly as much of a problem as people think it is. Most customers are happy to accept a reasonable price increase – provided you’re selling a quality product. As we’ve seen, Netflix isn’t providing quality. Which is why price increases are a major reason why people are unsubscribing.

These are just a few of the challenges facing our beloved streaming platform.

But will Netflix survive?

To be honest, it’s hard to see what the future holds. They may turn things around or continue to decline. Whether or not this happens will really depend on the people in charge. The fact is that subscribers must be weaned off the binge model. Netflix needs to release less, higher quality content. In addition to this they need to stop raising prices.

And this is the lesson for internet marketers

You absolutely cannot pump out garbage content.

Remember, content is king and the biggest reason why Netflix is failing is because their content sucks. Another lesson is that you need to stay on your toes. Just because you’re the market leader today, doesn’t mean it’s going to stay that way forever.

What’s more, you need to continually examine your business model and look for weak spots.

What’s working today may not necessarily work tomorrow.

Alastair Walton

P.S. It’s hard to know how much of this is actually true. You see, part of the reason why Netflix is in decline is because of the competition. What I’m trying to say is that a lot of these stories may be negative PR planted by other streaming platforms. I don’t want to sound like a conspiracy theorist, but who knows what the truth is?

GET CLIENTS QUICKLY WITH THIS UNUSUAL METHOD

Many years ago I was trying to break into the world of freelance copywriting.

At that point I was really struggling.

No matter what I did, no one would hire me.

But then I heard about an interesting way to find work.

With this technique you can quickly get as many clients as you need.

Not only that, it provides copywriters with a few additional benefits as you’ll see below.

What is this technique?

Well, what you basically want to do is find people with existing sales pages (one way to do this is by visiting Clickbank and getting in touch with product owners.) Send these people a message and tell them about yourself and that you’re a copywriter. Then tell them that you want to rewrite their sales letter…for free…and that they only need to pay if you write something that converts higher than what they’ve got at the moment.

Now, before you turn your nose up at this idea, there’s a good reason why you should try it.

First of all, this is a no-brainer offer because there’s zero risk to the client – which means you’ll actually GET clients. What’s more, offer this service to enough people and you’ll eventually strike gold i.e. you’ll actually write a letter that converts and get paid for your efforts. In fact, this may even turn into ongoing work if you’re lucky.

There’s also another benefit which most people don’t think about.

You see, when starting out as a copywriter there’s one thing you need more than anything else.

What is this?

EXPERIENCE.

You need to get to the point where you’ve worked with a handful of clients…

…and written at least 2-5 sales letters or other pieces of copy.

More importantly…

You need to have written copy that actually converts.

Only by doing this will you gain the experience needed to move onto more serious projects.

Bottom line:

If you want to break into freelance copywriting then consider offering a free sales letter rewrite.

Doing this is a great way to gain experience and confidence.

Plus it helps you build up a portfolio…

…plus you might actually earn some money.

Alastair Walton

P.S. One more thing before I go: If you’re going to do this make sure you have another source of income i.e. don’t quit your day job to become a copywriter and then work for free. The reason why is because you’re probably not going to make a lot of money (or even get paid.) In my experience most people don’t run your copy and will ignore you after it’s delivered. If they do use the copy and it makes money…well…there’s no guarantee they’ll honor the agreement. Remember, you’re doing this purely for experience and not money, so don’t concentrate on that until later…