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200,000 users abandon Netflix after crackdown backfires
(www.forbes.com.au)
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this post was submitted on 29 Aug 2023
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This article is specifically about Australia. Globally, Netflix added 5.9 million subscribers after their password-sharing crackdown.
I hate to say it, but the crackdown worked exactly as intended.
https://www.bbc.com/news/business-66240390
And yet their stock dropped massively after revealing the 5 million gain because investors realize that it was a one time boost that won't help them in the long run.
They essentially showed the market their firm cap for revenue, and the market was like 'uhh thats it?'