As shares plunge, Netflix takes aim at password sharing, ads

By MICHAEL LIEDTKE and MAE ANDERSON
AP Business Writers

SAN FRANCISCO (AP) — Streaming service Netflix is dealing with a sharp drop in subscribers by considering changes to its service that it has long resisted. Netflix suffered its first loss of subscribers in years, an unwelcome surprise that drove its stock down 35% Wednesday. The company says it will try to minimize password sharing and is considering a low-cost subscription supported by advertising, changes that could affect loyal customers in unpredictable ways. Pandemic-driven lockdowns that kept people streaming content at home have lifted and services such as Apple and Walt Disney have begun to chip away at its vast audience.