SAN FRANCISCO (AP) — Streaming service Netflix is dealing with a sharp drop in subscribers by considering changes to its service that it has long resisted.
Netflix suffered its first loss of subscribers in years, an unwelcome surprise that drove its stock down 25%.
The company says it will try to minimize password sharing and consider creating a low-cost subscription supported by advertising. Those changes are aimed at helping Netflix regain the momentum it's lost during the past year.
Pandemic-driven lockdowns that kept people streaming content at home have lifted and services such as Apple and Walt Disney have begun to chip away at its vast audience.
