Netflix is an American subscription streaming service that offers a wide variety of TV shows, movies, anime, documentaries, and more. The company was founded in 1997 by Reed Hastings and Marc Randolph, and it has since become one of the most popular streaming services in the world.
According to recent reports, Netflix added over 5 million subscribers in the third quarter of 2023 which it claims was achieved through the recent crackdown on password sharing amongst other factors. The streaming giant announced plans to limit sharing earlier this year after experiencing a huge subscriber loss in 2022.
Netflix also added cheaper, ad-supported tiers which also played a role in the increase in users. These has helped to buoy its subscriber numbers despite the pressure caused by recent strikes by actors and writers, layoffs, and concerns about the impact of the rising cost of living on subscription spending.
However, the company’s recent moves suggest that it is committed to adapting to the changing streaming landscape.
But the question is do you think Netflix can maintain its growth in the long term?
Do you also think the crackdown on password sharing is a good idea? Share your thoughts on our social media pages or in the comment section below.