Netflix, a multi-million global streaming service, sees subscribers drop by up to 200,000 since the start of the year. Its the first time in more than a decade that this super-scaled company has seen a drop- and there are fears its only to get worse, and expects to lose a further two million over the next three months.

Netflix shareholders have put part of the blame for its falling numbers on people sharing their passwords for the service. A survey suggests almost 45% of people in the UK alone are not paying for the subscription. Netflix CEO Reed Hastings famously said password sharing “really hasn’t been a problem” in 2016, but now he appears to be changing his mind. According to a Aura survey from 2021, 53% of Americans admit they share passwords with people outside their main household.

Netflix are also claiming that the suspension of their services in Russia, due to the Ukraine war, has seen them lose a further 700,000 subscribers.

In an attempt to restore some of their net losses, Netflix are going to crackdown on password sharing. The company plans are considering introducing an extra fee to those who password share outside of the household.

Netflix have already started testing this feature in South America, with countries such as Peru, and Costa Rica having to pay an additional fee for sub accounts. Netflix estimates that almost 100 million households world wide access Netflix through password sharing

Netflix have also increased there prices by £1 across the UK making it £6.99 per month for the standard plan. However, they are considering adding a new, cheaper service plan that includes advertising, but will also keep ad-free plans for its existing subscribers,

“i thiNK ADVERTS ARE ANNOYING, BUT IF IT MEANS A CHEAPER PLAN , THEN THATS FINE”

Locals in Nottingham have similar views on adverts being introduced to Netflix on a cheaper plan:

Audio: Nottingham residents views on cheaper Netflix plans with adverts 

With the cost of bills, food and house hold items on the rise, people are being forced to prioritise necessities, with the likes of Netflix, Disney and Warner Bros subscriptions, being the first to be cancelled.

On Wall street, the Netflix’s stock fell 26% and erased a massive £31 billion from it’s stock market value. Netflix’s have said their plans to introduce advertising will help the company get back to there original position and assures shareholders not to worry