The company has now started testing different ways of curbing password sharing in Chile, Costa Rica and Peru – and could extend this elsewhere if it proves successful.
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It also blamed password sharing for the rise in cancelled accounts, as it estimated that about 10million households worldwide are watching its service for free by using the account of a friend or another family member. Netflix said the Covid boom had 'created a lot of noise' and blamed the slowdown on the return to normality after two years of lockdowns. It comes as the streaming behemoth has lost 200,000 subscribers in just three months, while shareholders of the US firm have been warned to expect another two million subscribers to leave in the three months to July.īosses say a second price-rise in a year has played a part, while the company has lost 700,000 following its decision to pull out of Russia in the wake of Vladimir Putin's invasion of Ukraine. Meanwhile, over half of Netflix's own reality TV shows and dramas released in 2018 have not been commissioned for a second series, compared with more than a third launched in 2017 and 28 percent in 2016, reports The Times.
Popular TV dramas like The OA, Marco Polo, and The Punisher are being cancelled by the service after series two - leaving fans furious and threatening to cancel their subscriptions because they no longer want to 'invest their time in a series' over fears it will be 'culled'. The streaming giant are rapidly cancelling many of their own projects as new data revealed fewer than one in five of Netflix's original shows launched in 2017 actually reached season three - compared to just 31 per cent in 2015. Netflix are axing their own shows earlier than ever before and it's thought to be one of the main reasons the platform is quickly losing subscribers, according to new research.
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