Millions of Netflix fans say they’ll QUIT app this year as cost of living crisis bites

Twenty-five per cent said that they planned to leave this year.

That could mean that over 18million US subscribers will vanish, leaving a $272million hole in the streaming company's pockets.

Around 40 per cent of people said that they will exit Netflix due to the recently announce price rise.

The company is hiking the cost of its basic and standard plan prices up by £1 a month, to £6.99 and £10.99 respectively.

While customers will be charged an extra £2 for the premium package, which will now cost £15.99.

It's proved unpopular among users who are already struggling to pay bills as a result of rising energy costs, record inflation and more.

Other Netflix users surveyed by Reviews.org said that they were leaving as a direct result of the cost of living crisis.

Nearly one in five admitted that they could no longer afford Netflix as their bills have skyrocketed this year.

Just under 22 per cent said they were jumping ship due to missing shows and/or movies on the platform.

The remaining participants said they were going because they preferred other streaming services.

The Sun has reached out to Netflix for comment.

Many of us are subscribed to multiple subscription services for music, TV, movies and more – and costs can quickly stack up.

Price rises announced by the likes of Netflix, Amazon, Sky and Virgin Media mean that Brits are beginning to feel the pinch.

Fans have been left with no choice but to cancel services as the cost of living crisis hits households on both sides of the Atlantic.

Netflix has had a tough year, losing 1.2 million subscribers in the first two quarters of 2022.

It was the first time the massive streaming service had recorded a subscriber loss in a decade.

Netflix has blamed increased competition, password sharing and Russia's war with Ukraine for the drop.

It's left the company scrambling to find new ways to make cash.

Last month, Netflix announced that it will charge users who share their passwords between households from next year.

In the latest crackdown on account sharing, subscribers will be asked to fork out extra to add members who don't live with them.

It emerged in March that the streaming giant was already testing the additional charges in Chile, Costa Rica and Peru.

Users who share passwords are forced to cough up around £2/$2.70 in addition to their monthly subscription fee.

Netflix is also trialling a cheaper tier that will show users ads in between and during TV shows and movies.

A leaked memo has hinted that that will be available as soon as October.

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