Hot!
Netflix hints at password sharing crackdown as subscribers fall
Netflix has hinted it will crack down on households sharing passwords as it seeks to sign up new members following a sharp fall in subscribers.
Some 200,000 people left the streaming service in the first three months of the year as it faced intense competition from rivals.
It was also hit after it raised prices in some countries and left Russia.
Netflix warned shareholders another two million subscribers were likely to leave in the three months to July.
“Our revenue growth has slowed considerably,” the firm told shareholders on Tuesday after publishing its first quarter results.
“Our relatively high household penetration – when including the large number of households sharing accounts – combined with competition, is creating revenue growth headwinds.”
The streaming giant estimates more than 100 million households are breaking its rules by sharing passwords.
Boss Reed Hastings previously described the practice as “something you have to learn to live with”, adding that much of it is “legitimate” between family members. The firm also said account sharing had probably fuelled its growth by getting more people using Netflix.
But on Tuesday Mr Hastings said it was now making it hard to attract new subscribers in some countries.
“When we were growing fast, it wasn’t a high priority to work on [account sharing]. And now we’re working super hard on it,” he told shareholders.
The firm said that measures it is testing to curb password sharing in Latin America could be rolled out to other countries, with accounts that break the rules charged extra.
Lucas Shaw, who writes the Screentime newsletter for Bloomberg news, told the BBC that password sharing had been an issue for Netflix “for a long time” but was by no means its biggest challenge.
“It feels like the company is trying to identify an area of potential growth,” he told the Today programme.
“They’ve tried to curb password sharing in the past and had a very hard time.”
Shares in the streaming giant plunged more than 25% in after-hours trading following the news, wiping more than $30bn (£23bn) off the company’s market valuation.
Subscriber exodus
The last time the company lost members in a quarter was October 2011 and it warned that many more people would cut ties this year.
The firm remains the world’s leading streaming service, with more than 220 million subscribers, but it said a surge in sign-ups during the pandemic had “obscured the picture” around its growth.
Analysts say people are cutting back on streaming as they look to save money and feel overwhelmed by the volume of content available.
Netflix also faces intense competition as firms such as Amazon, Apple and Disney pour money into their online streaming services.
Paolo Pescatore, an analyst at PP Foresight, said the subscriber loss was a “reality check” for Netflix, as it tries to balance retaining subscribers with raising its revenue.
“While Netflix and other services were key in lockdown, users are now thinking twice about their purchasing behaviour based upon changing habits,” he said.
North America especially is “now awash with too many services chasing too few dollars”, he added.
Russia hit
Pulling out of Russia, a step Netflix took following the war in Ukraine, cost it 700,000 subscribers, Netflix said.
Another 600,000 people stopped its service in the US and Canada after its put up prices, it added.
Netflix said that move was playing out “in line with expectations” and would yield more money for the firm, despite the cancellations.
Its revenue in the first three months of the year was $7.8bn (£6bn), up 9.8% compared with the same period last year.
That marked a slowdown from earlier quarters, while profits fell more than 6% to roughly $1.6bn.
As it looks to grow, the firm said it was focused on international markets and was also looking at bringing advertising into its services.
Mr Hastings said it was “pretty clear” that ad-supported services were working for Disney and HBO.
“Those who have followed Netflix know that I’ve been against the complexity of advertising, and a big fan of the simplicity of subscription,” he said. “But, as much as I’m a fan of that, I’m a bigger fan of consumer choice.”
Analysts say the rising cost of streaming services was starting to wear on households.
Source: BBC
The Dzidula Pink Foundation, a new organisation dedicated to cancer awareness, early detection, and patient support, has been officially launched in Accra, with a passionate call for national commitment to fighting the disease. The launch event, held last week Friday, carried the theme: “Beyond the diagnosis: A future of restoration, care and courage.”
Speaking at the event, Madam Abena Brigidi, founder and CEO of Nimed Capital Limited, emphasised that cancer remains one of the most devastating health challenges facing families across the country. “Cancer does not discriminate—it affects mothers, fathers, daughters, and sons. It drains families emotionally and financially, and behind every statistic is a human story and a future suddenly thrown into uncertainty,” she said.
Sharing her personal encounters with cancer, having lost both her husband and father to the disease, Madam Brigidi highlighted the emotional, financial, and physical scars left behind. “I stand here not just as a speaker, but as a witness to what cancer can take away,” she stated. “I have watched loved ones fight bravely, and I have felt the deep pain that loss leaves behind.”
She stressed that awareness and early detection are critical to reducing deaths, noting that many Ghanaians still lack access to proper screening, reliable information, and adequate treatment. She appealed to healthcare professionals, corporate institutions, policymakers, the media, and the general public to join hands in the fight. “Early detection saves lives. Your support today can lead to someone’s healing tomorrow,” she said.
Madam Brigidi further called for collective responsibility to sustain the foundation’s mission. “To our medical professionals, we need your expertise. To corporate partners, your resources. To the media, your voice. To policymakers, your support. And to the public, your compassion,” she urged. She also insisted that breast cancer awareness should not be limited to annual campaigns, saying, “Breast cancer awareness must not be seasonal.”
Mrs Diana Fafa Gozo, founder of the Dzidula Pink Foundation, shared her own cancer journey, describing the shock of diagnosis, the fear that followed, and the difficult path through treatment. Her experience transformed her pain into purpose and inspired her to create a foundation to ensure no cancer patient walks alone.
Mrs Gozo explained that many patients struggle not only with treatment costs but also with emotional resilience. She outlined the foundation’s initiatives, which include awareness and early detection campaigns, patient support funds, community outreach, and survival support circles. “This foundation is my offering of gratitude, courage, and compassion and a reminder that no one should walk the cancer journey alone,” she concluded.
By Esinam Jemima Kuatsinu
Join our WhatsApp Channel now!
https://whatsapp.com/channel/0029VbBElzjInlqHhl1aTU27
The Accra Metropolitan Assembly (AMA) says it will deploy teams of Public Health Officers, members of its Sanitation Taskforce, and labourers, including sweepers and janitors, across all sub-metros to support the third National Sanitation Day exercise.
It explained that these teams will be equipped with waste collection trucks, tippers, and other tools to help with desilting, refuse collection, and transporting waste to approved disposal sites.
The AMA reminded residents that failing to comply with the sanitation directive or refusing to participate in communal labour is an offence.
It said offenders risk a fine of up to 100 penalty units, imprisonment between 30 days and six months, or both, with repeat offenders liable to additional daily penalties.
It urged all residents, traders, transport operators, market women, shop owners, landlords, tenants, and businesses to actively participate in the exercise.
The AMA said it counts on everyone’s collective responsibility to keep Accra clean, liveable, and resilient, especially as the city approaches Christmas and the New Year.
By: Jacob Aggrey
