Netflix is reportedly planning to reduce its spending by $300 million this year.
According to the Wall Street Journal, this is partly due to the streamer having to put back its crackdown against password sharing from the first to second quarter.
However, there will.be no freeze on hiring or any additional layoffs at the company.
As previously reported by Broadband TV News, in its Q1 results Netflix said it was delaying the rollout its “paid sharing” option despite being pleased with the results of its Q1 launches in Canada, New Zealand, Spain and Portugal.
The crackdown on password sharing resulted in the streamer losing over 1 million subscribers in Spain alone.
