Netflix is losing subscribers for the first time in 10 years
Netflix is losing subscriptions for the first time in 10 years. They are expecting to lose even more in the spring. Netflix hints at the password sharing crackdown is the main reason for subscriber's fall.
The streaming giant’s share price initially fell close to 20%. It means that Netflix has lost 200,000 subscribers at a single moment. They hint that the password-sharing crackdown is the main cause of this fall. Wall Street had been expecting the company to add 2.5 million subscribers. Even though Netflix Inc., is still expecting to lose 2 million global subscribers in the current quarter.
Netflix has hinted it will crack down on households sharing passwords as it seeks to sign up new members following a sharp fall in subscribers. The number of households using the streaming servi...