Netflix raised its subscription prices in the US and Canada again. As making it among the most expensive streaming services out there at the beginning of this year. Furthermore, Netflix’s shareholder letter information is widespread among its subscribers. Now the company has also been considering putting an end to password sharing. Moreover, Netflix’s shareholder letter has said it will be coming ahead with its plans and program to change its ordinance on password sharing. Henceforth, the streaming service saw its subscriber base shrink for the first time in over a decade. As well as, here are 5 Netflix tips and secrets that every power streamer needs to know.
Due to the ongoing conflict in Russia, Netflix resigned from the market.
Factually, it lost over 200,000 subscribers in the year’s first half and saw its revenue growth slow down significantly. Therefore, the decrease in the subscriber base is mainly because Netflix left the Russian market. This happened due to the ongoing war, which resulted in a loss of 700,000 subscribers. Moreover, the company also agrees that it is not developing at the same speed as before and things are unlikely to change soon. As well as, the worst part is it expects to lose another 2 million subscribers in Q2, 2022. Netflix’s shareholder letter is big news for those users who are using the shared password.
Decline in revenue
In order to stop the revenue decline, the streaming company plans to monitor account sharing. Also even plans to launch an ad-supported tier at a lower price. Furthermore, Netflix claims its service is shared in over 100 million households in its quarterly earnings report. Additionally, the company already offers its subscribers in Peru, Chile, and Costa Rica. Just to add an extra member to their account for a lower monthly price. Moreover, the service expects to monitor this user base in other parts of the world in the future. With Netflix COO Greg Peters (via Protocol) saying it could take a year for the changes to take place. Hence, Netflix’s shareholder letter is putting an end to password sharing, which will result in rising total revenue.
co-CEO of Netflix
Netflix co-CEO Reed Hastings has also given his statement on the conference call. He said that the streaming service is open to offering a lower-cost plan. Also, with advertising for subscribers who don’t mind watching ads. The organisation is still examining this option and could offer an ad-supported version in the coming years.