Netflix hints at password sharing crackdown as subscribers fall

Netflix has hinted it will crack down on households sharing passwords as it seeks to sign up new members following a sharp fall in subscribers.

Some 200,000 people left the streaming service in the first three months of the year as it faced intense competition from rivals.

It was also hit after it raised prices in some countries and left Russia.

Netflix warned shareholders another two million subscribers were likely to leave in the three months to July.

"Our revenue growth has slowed considerably," the firm told shareholders on Tuesday after publishing its first quarter results.

"Our relatively high household penetration - when including the large number of households sharing accounts - combined with competition, is creating revenue growth headwinds

The streaming giant estimates more than 100 million households are breaking its rules by sharing passwords.