The company has also announced that it will begin phasing in a global password sharing ban. On Wednesday, the company announced such moves against the backdrop of their stock plunging more than 35%.
Stocks reportedly plunged amid reports that the company is struggling to keep up with its competition. Rivals like Disney+; Amazon Prime, Paramount Plus and others have made it increasingly enticing to leave Netflix for wide-ranging offering at competitors usually for much less than Netflix.
For the first time in more than a decade, the company reported a total of 200,000 subscriber losses. The news has ignited sort of a disaster run *away* from Netflix amid fears that the company just isn’t what it once was anymore. Several social media users across various platforms all report a very basic generalized idea that there just isn’t often much to watch.
According to CNBC, Netflix estimates that more than 100m households are engaging in password sharing activities.
