TA-DUM…DA DUM DUM: It looks like Netflix will start clamping down on sharing passwords, following a brutal loss of some 200,000 streaming subscribers in the first three months of this year.
The Wall Street Journal reports the streaming service could lose as many as two million total subscribers this quarter.
The loss of 200,000 subscribers was the largest loss suffered by the company in a decade, and caused a 35% drop in the stock price for the streaming giant on Wall Street Wednesday.
Netflix CEO Reed Hastings revealed the grim subscriber statistics during an earnings call on Tuesday, in which he detailed plans to clamp down on subscribers sharing their passwords — which the company’s never seriously addressed — and also proposed a cheaper, ad-supported subscription rate.
The Journal reports Netflix had added more than 18 million subscribers in 2021, which was weaker than normal, and a drastic decline from the 36 million it had added in 2020, when millions of people were at home in front of their TVs during the early pandemic lockdowns.
Copyright © 2022, ABC Audio. All rights reserved.
Related Posts
Music notes: Olivia Rodrigo, Selena Gomez and more
May 1, 2024
Olivia Rodrigo might just be in lo-lo-lo-lo-lo-lo-lo-lo-lo-lo-lo-love. At the Tuesday, April 30,…
Producer says it was Ryan Gosling’s idea to use Taylor Swift song for ‘The Fall Guy’
May 1, 2024
UniversalIf you only know one thing about The Fall Guy, it's probably that in one scene Ryan…
‘Ahsoka’ baddie Ivanna Sakhno downloading role in ‘M3GAN 2.0’
May 1, 2024
LucasfilmStar Wars: Ahsoka star Ivanna Sakhno has a "major part" in the upcoming sequel to the…
Noah Kahan celebrates four-year anniversary of the EP “that completely changed” his life
May 1, 2024
Mercury/RepublicNoah Kahan released a vinyl version of his 2020 EP Cape Elizabeth for Record Store…
TNT’s ‘Rich & Shameless’ to follow NBA Western Conference Finals with a focus on sports scandals
May 1, 2024
TNTTNT has announced that its hit true-crime anthology series Rich & Shameless will return during…
Baskin-Robbins is turning imagination into ice cream with ‘IF’ promotion
May 1, 2024
Baskin-RobbinsAs a tie-in to the Ryan Reynolds/John Krasinski family film IF, Baskin-Robbins is…
Katy Perry praises Orlando Bloom for his new show, drags him for leaving his socks around
May 1, 2024
PeacockKaty Perry is supportive of her fiancé Orlando Bloom's new show, To the Edge, in which he…
Keke Palmer, Stephanie Hsu, Brothers Osbourne and more to judge ‘RuPaul’s Drag Race All Stars’
May 1, 2024
Paramount+Paramount+ dropped the trailer to the ninth season of RuPaul's Drag Race All Stars…