Dear reader,

If you don’t know what Blockbuster is/was, let me tell you a little story (insert grandma voice here).

Before Netflix or any streaming service, there were devices that you insert into your *not smart* TVs, such as DVDs and VHS. We used to walk into a store and rent the movies we have waited for a long time to be in this format so we can enjoy them at home. It was a whole adventure and sometimes you couldn’t even get the movie you wanted because some people rented them at the same time. Think of it as when a lot of users are logged into the account simultaneously. Once you make your selection and a bunch of snacks after, you would check out the movies and rent them for a couple of weeks. Soon, you’ll come back and select a different feature film.

It worked for a long time, and the business model was great until they had competitors and everything became “smart.”

The last blockbuster operated until 2014 when streaming services came into the business. Subscription models became more financially stable. They shorten the waiting time in between enjoying a movie at the theater and enjoying it in the comfort of your sofa. Devices such as DVD players, became obsolete as we welcome the Netflix era and other streaming services.

Last Friday, Netflix lost 1 million users and $50 billion in revenues overnight. They have been raising their prices slowly and the latest increase happened after April 7. They’ve been doing trails in Chile and Costa Rica to “stop” password sharing between households, and this feature might cost “extra.” Additionally, they want to offer service at a lower price service at the cost of ads and lower streaming quality. They’ve been taking off some of the movies and shows they used to offer and many users have voiced the lack of substance in some of their recent original releases.

Maybe this will start bringing people back to theaters. It is important to keep in mind that according to a public statement last month, Netflix suspended its services in Russia due to the current events. Netflix is estimated to have 1 million Russian subscribers (PDF) according to a CNBC report.

Netflix has been going downhill in the last couple of weeks. Not only have they lost customers, but their prices and shares dropped in the stock market. Some people argue that this is due to their poor financial choices and in the long term, they might be losing some employees that might feel like this job isn’t stable anymore and would rather leave before the company closes its doors for good. This challenge will only get harder now that the company is in cost-cutting mode.

More than 100 million households are using a shared password, Netflix said Tuesday, April 19 including 30 million in the U.S. and Canada. To be frank, I share my password with my family that lives in a different household, with their high prices that’s the only way to make it cost-efficient.

Is Netflix sinking because their shows have gotten worse or are their market oversaturated? Is it their price? The reasons are multiple and many users are showing how unhappy they are through social media. What would happen to Netflix? We can’t predict. But for it to become “the new blockbuster,” we need a longer period. Currently, it’s leading its pathway.