Netflix’s biggest hits are reportedly losing more than half of their audiences as viewers abandon shows after just one season.
One of the streaming giant’s most-watched shows of 2023, One Piece, lost more than 30 percent of its audience during the second season, while Season two Netflix’s Beef suffered a drop of more than 70 percent, according to a report by Bloomberg.
To make things worse, the most recent season of Avatar: The Last Airbender, one of Netflix’s most-watched shows in 2024, saw a loss of more than 60 percent of its viewers in the course of its first week.
Moreover, both of Netflix’s Squid Game and Stranger Things didn’t have the same engagement they did in the beginning.
Meanwhile, The Night Agent reportedly lost 50 percent of its audience during its second season and additional 35 percent for the third season. The series is now set to end after its next season.
Nonetheless, the streaming giant has renewed Running Point and The Four Seasons, despite both shows losing more than 50 percent of their audience its first season.
The streamer has seem some success at the start of this year, with His & Hers and the fourth season of Bridgerton being a rare occurrence in which viewers do not plummet.
But the general steep drop in viewers has reportedly become a major concern for executives at Netflix, who have been studying the company’s data to determine how it’s happening, a source familiar with the situation told Bloomberg.
Notably, Netflix does not depend on any particular show to drive the company, and releases a lot of new content, expecting to deliver several new hits each quarter.
At the same time, Netflix has been dealing with anxious investors, while its stock has seen a decline ever since the company made a bid for Warner Bros. Discovery.
Netflix’s Chief Executive Officers Ted Sarandos and Greg Peters have always insisted to their investors that the streaming giant will absorb viewers who abandoned cable and broadcast for streaming.
Despite the plummeting of viewers, Netflix reportedly maintains half the most-watched shows on streaming platforms.
Alana Mastrangelo is a reporter for Breitbart News. You can follow her on Facebook and X at @ARmastrangelo, and on Instagram.