Netflix has revealed that it is losing a record number of members, and that it would have to resort to measures such as tougher password-sharing crackdowns to restore its subscriber numbers.
A New Strategy
In its most recent earnings report, Netflix showed that subscribers were down 200,000 in total from the previous quarter, the greatest drop in over ten years.
Netflix Co-CEO Reed Hastings also mentioned the company’s ambitions to go serious about password sharing, which they’ve been dabbling with for a while. Netflix has been aware for a time that users were sharing accounts, but Hastings claimed that the company’s overall growth and subscriber count were so good that it wasn’t a major concern.
While a lot of users would be disappointed with the idea, this may be a necessary move for the company in order to steer them back on the road of success. As owning an empire could be difficult, there has to be some major changes in order to maintain success.