According to a new report from The Wall Street Journal, Netflix aims to reduce spending by around $300 million by the end of 2023. Company leaders apparently asked staffers to be more judicious with spending after plans to generate additional revenue via a crackdown on password sharing were delayed. - The move will apparently not include a hiring freeze or additional rounds of layoffs.
- Last month, Netflix increased its goal for free cash flow generated this year from a target of $3 billion to $3.5 billion.
- The delayed move on password sharing was apparently intended to give the company more time to strategize about the best approach; any potential revenue spike will now come in the second half of 2023.
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