Netflix began clamping down on password sharing in four additional countries earlier this year, but opted not to expand more broadly after it 'found enough improvement opportunities' from early launches.
On April 18, Netflix posted weaker-than-expected subscriber growth for the first three months of this year, causing its stock to fall as much as 8 per cent in after-hours trading.
The company reported a net increase of 1.75 million global streaming subscribers, up nearly 5 per cent from the same period in the prior year, but below the more than 3 million Wall Street analysts had expected. It was a crucial quarter for Netflix, as the company seeks to grow a number of new revenue opportunities following rocky performance last year, including shedding 200,000 subscribers in the year-ago quarter, which sparked a major selloff. The company has also been working to grow its new ad-supported subscription offering, which launched last year.
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