Why is Netflix losing subscribers while other streaming services like Roku for example still managed to add 1.2 million subscribers in its first quarter?

SWOT/STEEP Industry Anaysis (1 page)
Five Forces Industry Analysis (2 pages)
Identify 1 strategic challege (1 page)
Provide strategic reccomendations (1 pages)
Make sure to utilize class materials uploaded
Below is my reasons for the case study.

Please include the answer for theses questions in the analysis
Why do we want to strategically audit this firm?- Motivation?
In 2007, Netflix began offering subscribers the option to stream movies and TV shows through the internet and later became the world’s largest streaming service. At the beginning of 2022, Netflix subscribers had hit 221.84 million. However, after the first quarter of the year ended, Netflix had lost about 200,000 subscribers and is estimated to lose another 2 million subscribers by the end of the second quarter. For the first time in 10 years, Netflix shares faced two selloffs following the past two earnings reports. The selloffs had created the worst stock drops on Netflix’s record. In its first drop, the company shed $54.4 billion of its market cap overnight. During its 2022 first quarter, the company continued to lose $49 billion and its share price sank to a four-year low. The events had raised a question: “What went wrong and why?” We want to strategically audit Netflix because we want to understand the industry and what common forces can affect it. We also want to understand Netflix’s positioning relative to its competitors like Apple TV, Discovery +, Prime Video, Paramount +, Peacock Premium Plus, Hulu, and HBO Max. By studying the company’s strategic planning, we hope to answer the following questions:
– Why is Netflix losing subscribers while other streaming services like Roku for example still managed to add 1.2 million subscribers in its first quarter?
– What might happen to the company in the future?
– What can Netflix do to crawl back to the top of the streaming chart?
– Is it time for the evolution of streaming services and entertainment to take over?