Netflix, Coupang Play see sharp decline in users in May

[Photo by MK DB]

Netflix Inc., a global over-the-top streaming service (OTT), is facing a sharp decline in the number of new subscribers, following the removal of its budget plan and ban on free account sharing with non-household members last year.

According to MobileIndex, an application data analytics service, Netflix had around 11.18 million monthly active users (MAUs) in May, marking the fifth consecutive month of decline since December.

New subscriptions dropped by about 27 percent from 364,500 in February to 287,400 in March, before falling to 267,100 in April and 259,400 in May.

Coupang Play, a South Korean platform, has also seen a decline in the number of users following its recent price hike.

In April Coupang, Inc. raised the monthly fee for paid membership WoW, which includes its OTT service Coupang Play, by 58 percent, from 4,990 won to 7,890 won.

Following the price hike, the MAUs in Coupang Play dropped from 7.8 million in March to 7.03 million in April.

Coupang Play’s MAUs 6.54 million in May. New subscriptions on the platform nearly halved from 740,900 in March to 470,450 in April.