Heard on the Street: Netflix’s paid-subscriber decline brings renewed focus on password-sharing as the streaming leader seeks to boost revenue
Theoretically, Netflix hasn’t topped out. About 56% of respondents to a recent survey by MoffettNathanson and market research firm HarrisX of U.S. broadband households report using the service. But as the market leader which largely pioneered the concept, Netflix faces the natural challenge of winning over those who have likely already heard of it but have so far declined to sign on.
Hence, Netflix is going to focus on wringing more out of its base. The company acknowledged Tuesday that, with more than 100 million other households using accounts owned by the nearly 222 million existing subscribers. Netflix is already testing programs to convert some of these viewers to paid viewers, and it said Tuesday this represents “a large short- to mid-term opportunity.” But converting freeloaders is less attractive when there are fewer subscribers left to mooch from.
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