A sober Netflix management team said that password sharing was front-line and tested against an army of 100 million viewers using the service for free, but it could take about a year, and it’s unknown how. I liked it.
“We just need to get money for them,” co-founder and CEO Reed Hastings said during a video Q&A session on Tuesday after the company announced its first-quarter earnings.
Streamer has been working on password sharing solutions for almost two years, but that didn’t matter much as the business grew rapidly. This is still happening as shares are down 25% in post-market trading today due to low subscriber numbers and revenue growth.
I know this is disappointing for investors. [but] We are really ready. This is the moment of our brilliance. “It’s time for us to return to investor goodwill,” he said.
One hundred million Netflix viewers, including 30 million in the US and Canada, use other people’s passwords to log in, which is a huge number for a total of 220 million subscribers.
Former executives said that Netflix began launching a light trial a year ago and has just completed the country’s first major trial (without saying where). CEO Greg Peters said the solution will take some time to develop and will likely require “replicating and deploying” globally, including in the US. The idea he proposes is not to eliminate password sharing, but to force people. In this process, the company will focus more on revenue and “subscriber counts” rather than looking at individual subscriber numbers that have run out of inventory.
Netflix and live sports? Ted Sarandos Says Streamer Should Look for Revenue and Profit Streams Before Moving
It will also continue to focus on popular content creation and possibly the biggest blockbuster news of the day by creating a new layer of supported add-ons.
CEO and creative director Ted Sarandos said the company’s downfall was premature. “They’re not feeling well right now but man, they feel great coming out of the other side and we know we’re going out the other way,” he said.
Source: Deadline
Elizabeth Cabrera is an author and journalist who writes for The Fashion Vibes. With a talent for staying up-to-date on the latest news and trends, Elizabeth is dedicated to delivering informative and engaging articles that keep readers informed on the latest developments.
