For the 1st time in 10 years, Netflix has lost viewers, stock tanks, says password sharing is to blame

Jenny Kane/AP
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Netflix has lost 200,000 U.S. subscribers in the first quarter of 2022, marking its first drop in customers in more than a decade, the company announced Tuesday.

It attributed the losses to factors such as stronger competition, the Ukraine-Russia conflict and password sharing.

In a letter to shareholders, the entertainment company said it relied on password sharing within households to fuel growth early on, but that in addition to its 222 million paying subscribers, there are now an estimated 100 million households using someone else’s account.


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Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!