Netflix Says Password-Sharing Solution A Year Away, Reed Hastings Vows To “Get Back Into Investors Good Graces”
deadline.comA crew of sober Netflix execs said a password-sharing crackdown on the army of 100 million viewers who use the service for free is front and center and being tested but could take about a year to roll out, and it’s not clear what it will look like.“We’ve just got to get paid for them to some degree for them,” said founder-CEO Reed Hastings on a video Q&A after first quarter earnings.
The streamer’s been working on password sharing solutions for almost two years but when the business was growing fast, it didn’t matter that much.
It does now, as the stock plunged 25% in after-market trading today on soft subscriber and revenue growth.“I know it’s disappointing for investors [but] we are really geared up.
This is our time to shine. This is our time to get back into investors’ good graces,” he said.A hundred million Netflix viewers, including 30 million in the U.S.
Read more on deadline.com