Netflix announced its first monthly subscription price rise in two years in January. Today’s earnings report includes the following: Netflix says it lost 600,000 members in the United States and Canada, primarily as a result of the price increase, which is tracking in line with forecasts.
The streaming behemoth recently signalled that it will tighten the screws on consumers who share passwords and login information in an effort to maximise revenue from existing users. And this is no little matter: Netflix currently believes that the service is used by up to 100 million households via shared passwords. “It’s more difficult to develop membership in many markets,” Netflix stated as a result of the situation.
