Saturday Oct 1, 2022
Saturday Oct 1, 2022

Netflix aims to curtail password sharing, considers ads


Nepalnews
2022 Apr 20, 16:47, San Francisco
This Aug. 13, 2020, photo shows a logo for Netflix on a remote control in Portland, Ore. Netflix’s video streaming service suffered the first loss in worldwide subscribers in its history, leading to a massive sell-off of its shares. The company’s customer base fell by 200,000 subscribers during the January-March period, according to a quarterly report released Tuesday, April 19, 2022; its stock dropped by 23% in after-market trading. (AP Photo)

An unexpectedly sharp drop in subscribers has Netflix considering changes it has long resisted: Minimizing password sharing and creating a low-cost subscription supported by advertising.

Looming changes announced late Tuesday are designed to help Netflix regain momentum lost over the past year. Pandemic-driven lockdowns that drove binge-watching have lifted, while deep-pocketed rivals such as Apple and Walt Disney have begun to chip away at its vast audience with their own streaming services.

Netflix’s customer base fell by 200,000 subscribers during the January-March quarter, the first contraction the streaming service has seen since it became available throughout most of the world other than China six years ago. The drop stemmed in part from Netflix’s decision to withdraw from Russia to protest the war against Ukraine, resulting in a loss of 700,000 subscribers. Netflix projected a loss of another 2 million subscribers in the current April-June quarter.


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