The introduction of a Netflix ad tier plus a Netflix account password-sharing crackdown are coming sooner than expected.
reported on the dissemination of that note to Netflix employees on Tuesday morning, May 10.
The timing, if that indeed does come to pass on both fronts, is significant — especially when it comes to the launch of an ad tier. Because Netflix co-CEO Reed Hastings basically floored the industry last month when he merely foreshadowed that this is something Netflix has decided to finally start looking at.
Taken together suggested to Wall Street that Netflix’s business is in trouble. Skeptics, though, might now have even more of a reason to doubt the company, given that its emergency initiatives seem to be on an accelerated timeline.A TV screen is shown displaying Netflix, with a bowl of popcorn in the foreground. Image source: JorgeEduardo/Adobe
All this comes as Netflix during the prior quarter saw a loss of subscribers for the first time in more than a decade. That would be bad enough on its own. But Netflix also compounded the bad news by adding one more shocker. The company said it expects to lose even more subscribers during the next quarter .
There are all kinds of reasons that might explain the subscriber losses, including everything from people feeling like their favorite shows keep getting canceled to the annoyance of price increases. Bottom line, though: This news, no surprise, has tanked Netflix’s stock. And it’s wiped tens of billions of dollars in value from the company’s market capitalization.
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