Netflix down 25% - loses 200,000 subs, password crackdowns coming

[Sgt_Kickaxe]

Netflix reported they have lost 200,000 subscribers, the first quarterly loss in a decade, and stock has fallen 25%. Netflix plans to crack down on "password sharing", which is unlikely to generate as many new customers as it costs. Many who share an account only find value in the service because they can share it, and may cancel when they can't.

In case you weren't aware, the problem is more likely the extreme levels of social justice causes being infused into all programing Netflix has a direct involvement with, especially in remakes of already popular movie arcs like Lord of the Rings.

[apnews.com...]

[Sgt_Kickaxe]

Netflix acknowledged its problems are deep rooted by projecting a loss of another 2 million subscribers during the April-June period.

700,000 of those accounts are in Russia after Netflix withdrew from the country citing the Ukraine conflict.

In other news, CNN+ has halted ad campaigns for their new streaming service and fire the CFO after already investing 300 million in the new service and only managing 150,000 of their 10 million subscriber estimate.

Rough time for streaming services.

[not2easy]

You don't suppose that the winding down of the pandemic might have offered other options to once-captive audiences? No one is forced to watch what they don't want to after all.