They're losing subscribers, because of multiple reasons, most of which are their own fault:
- Subscription prices keep rising, and they were already very high.
- Libraries decreasing as they lose the licensing to other streaming services.
- Originals are hit and miss, mostly miss, and get cancelled constantly after 1 season.
- Crackdown on VPN and password sharing.
- COVID lockdowns are mostly over in Europe, US and Canada.
-Libraries outside the US are a fraction of the size of the US library, some legitimately have less than 10% of its content, while asking for the same amount of money.
- More competition than ever, and it's only growing.
Increasing the sub prices and cracking down further, isn't going to bring in more customers on an already diluted competitive market.
Also on the password sharing specifically.
We pay for 2 or 4 simultaneous streams on Netflix. It doesn't matter if I'm at home streaming, while someone 15min away from me is also streaming it on the same account. I paid you for the connections, you shouldn't tell me who can use them or from where.