Streaming service Netflix is dealing with a sharp drop in subscribers by considering changes to its service that it has long resisted.
FILE- A Netflix logo is displayed on an iPhone in Philadelphia on July 17, 2017. Netflix is confronting a reckoning that will result in new barriers to prevent its video streaming services subscribers from sharing their passwords beyond their households and possibly inject ads into its programming line-up for the first time.
range from $9 to $15 a month, but subscribers can create sub-accounts for two other individuals outside their household for $3 a month. On Tuesday, Hastings suggested that the company may adopt something similar in other markets.Just how Netflix will erect barriers remains unclear, and Hastings indicated that the company probably will spend the next year assessing different approaches. InSome current subscribers say even a gentle nudge to reduce password sharing might push them to sign off.
Despite some fears that a Netflix crackdown on password-sharing could encourage other streaming services to follow suit, experts say that's not likely. All of this has given investors major jitters for months. The Wednesday selloff came on top of earlier trouble for the stock, which has lost 62 percent of its market value since the end of 2021, erasing $167 billion in shareholder wealth.
Ad revenue in streaming services during the next five years is likely to grow more rapidly than subscription revenue, according to a recent study by the consulting group Accenture. By 2025, Accenture expects advertising sales in video services to total $21 billion annually, up from just $1 billion in 2017.
Ads, meanwhile, have never been a favorite of Hastings, who has long viewed them as a distraction from the entertainment Netflix provides.“I specifically signed up for Netflix back in the day because there were no ads,” he said. “Ads are too intrusive and they break your concentration and the continuity of the shows. You might be in a nice, intense scene -- you’re really into it -- and all of a sudden they cut to commercial.
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