Netflix plans to cut its spending costs by $300 million in 2023 largely because the company had to postpone its initiative to limit password and account sharing, which was expected to generate new revenue.
its plan to limit password sharing in April 2022, saying it had tested different ways to monetize account sharing and regain lost revenue—but the changes were pushed back in February and have yet to be implemented as the company is still determining the best approach for the crackdown, perThe spending reduction represents
a small percentage of Netflix’s overall operating expenses, which were $26 billion last year, but it comes at a challenging time in the streaming industry. Following the announcement of its password crackdown, Netflix reported last summer it had lost almost a million subscribers—its first subscriber loss in a decade—though it
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