The first quarter of 2023 has brought a lot of drama to Netflix. The clearer picture is showing a thumbs up to the ad-supported plan of Netflix but there is much more than that.
Reed Hastings has stepped down as the CEO of Netflix and the new leadership is planning to take even more severe action on password sharing.
It also includes canceling some subscribers. Netflix is clear in its head that they have to earn more profits. Thus they want more live streaming but NOT sports because it has less profit.
Also, if they have to cancel some subscribers in order to gain more profit then they won’t step back.
Newly appointed CEO Greg Peters stated, “Part of it is what we call casual sharing, which is people could pay, but they don’t need to and so they’re borrowing somebody’s account. So our job is to give them a little bit of a nudge and to create features that make transitioning to their own account easy and simple.”
Netflix has clearly stated that it won’t be a likable move but it would help them stand stronger as a profit-making company so that they keep making newer and better content. Stay tuned to Binged as we’ll update when Netflix introduces an ad-supported tier or password-sharing action in India.