Netflix is the leader in the digital space and the OTT platform has millions of subscribers in each country. Netflix added 13.1 million followers across the globe in the fourth quarter. The digital streaming platform now has 260.8 million paid subscribers and this is a record. The shares of Netflix went up after the results of the fourth quarter were officially out. Netflix also reported a net income of 937.8 million USD for the year and 8.83 billion USD in the fourth quarter.

Netflix is focused on profits for the financial year after it faced hurdles in the past few years. Several OTT players are struggling to make profits while Netflix is spending more on the content and the digital platform is not ready for collaborations. Netflix also announced the streaming of WWE Raw from next year. Password crackdown implemented by Netflix worked big time and the digital platform is also focused on ad-support tiers to generate more revenue.

Netflix announced the end of password sharing in India on Thursday. Netflix is expecting a boost in its revenue after password sharing end.

Netflix said, “Everyone living in that household can use Netflix wherever they are – at home, on the go, on holiday – and take advantage of new features like Transfer Profile and Manage Access and Devices,”

As per Netflix, they already initiated an email for the users, who are sharing passwords. The members can go on holiday and take advantage of new features through Transfer Profile and Manage access and devices.

Netflix also wrote in their official statement, “We recognize that our members have many entertainment choices. It is why we continue to invest heavily in a wide variety of new films and TV shows – so whatever your taste, mood or language and whoever you are watching with, there is always something satisfying to watch on Netflix.”

Nearly 6 million subscribers around the globe will be affected by this. Password sharing will be exempted for the immediate families and apart from that password sharing will be restricted.

Netflix recently ended its first quarter with a profit of $ 1.5 B and 238 million new subscribers. The end of password sharing is expected to boost more revenue.

Top digital streaming platform Netflix has lost close to 1 million subscribers in the second quarter of this year and Netflix has a total of 221 million subscribers. The digital platform lost 9,70,000 subscribers in the second quarter till June and this is the highest loss for the streaming platform in the last decade. When compared to the first quarter of 2021, Netflix lost 2 lakh subscribers during the first quarter of the year. The shares of Netflix kept plunging. Netflix also hinted at a new and cheaper plan that will be available with advertisements between streaming.

For countries like India, Netflix’s plans are not affordable for everyone. Netflix also announced strict guidelines for logins and they are in plans to charge for password sharing. To draw new subscribers, Netflix is working with Microsoft and will launch a cheaper subscription with advertisements. The cheapest plan is expected to be priced at 10 USD per month in the United States. Microsoft will design and manage the platform for advertisements.

Digital giant Netflix has lost 2 lakh subscribers in the first quarter of 2022 and the top OTT platform never suffered such a huge setback in the last decade. Netflix predicts that it would lose many more subscribers this year. The stock of Netflix lost by 26 percent bringing a 40 billion USD loss to the stock market. The suspension of the services of Netflix in Russia resulted in losing 7 lakh subscribers. Netflix has 221.6 million subscribers by the end of the first quarter of the year.

Netflix has been facing tough competition from Amazon Prime, Disney Plus Hostar, Apple and others. Though Netflix lost subscribers, the revenue was higher when compared to last year. The revision of the plans, the impact of coronavirus and tough OTT competitors made Netflix lose subscribers. There are large number of people who have been sharing their Netflix accounts with the non-paying households. Netflix announced restrictions to prevent sharing accounts in countries like Costa Rica, Peru and Chile. Netflix is keen to implement the same in other countries.

Digital platforms like Amazon Prime, Disney Plus Hostar and Zee5 made it to most of the households in India because of the affordable subscription prices. Netflix is quite expensive for the Indians when compared to the other subscriptions and Netflix has subscribers close to just 50 lakhs in the country. To expand their market and increase the subscribers, Netflix slashed down the prices of the subscriptions. The basic Netflix plan was priced at Rs 499 per month and it will now cost Rs 199 per month. The standard plan is dropped down from Rs 649 to Rs 499 a month.

The basic mobile plan is slashed from Rs 199 to Rs 149. The premium plan is dropped from Rs 799 to Rs 649 per month. The users will have an option to Confirm Upgrade. The basic plans just offer 480p standard resolution and can be watched on any device. The other plans will get you upgraded to 1080p video and the premium plans helps you to stream videos with 4K resolution. Amazon Prime too hiked the price from Rs 999 to Rs 1499 in India per year.