Although Netflix’s fourth-quarter earnings were lower than predicted, the firm attracted more customers to its expanded streaming platform than Wall Street expected. Furthermore, the firm stated that Reed Hastings will step down as co-CEO to become executive chairman. Cowen & Co. analysts predict that by cutting down on password sharing, Netflix could generate $1.6 billion in global revenue per year. According to Citi analyst Jason Bazinet, U.S. streaming video firms, including Netflix, lose around $25 billion in potential income each year as a result of password sharing, with Netflix responsible for about 25% of that total, or roughly $6 billion in revenue.
