Netflix’s Hold on Viewers Is Eroding – and the Competition Is Catching Up | Charts

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The No. 1 streamer’s share of demand among streaming users is steadily lowering, with Max nipping at its heels

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It was just a year ago that Netflix’s stock was lingering in the $200 doldrums after it shocked the industry with alarming subscriber losses, kicking off a wholesale reconsideration of the streaming wars.

Since then, its shares have rebounded, more than doubling from its 52-week low, as its recent earnings results reassured Wall Street that efforts like a crackdown on shared passwords and an ad-supported tier were paying off in renewed growth, and Hollywood’s strikes didn’t seem to be having a visible impact on subscriptions.

While it remains far larger and more profitable than the competition, there’s a longer-term cause for alarm in Netflix’s performance.