Netflix Hits Its Ceiling

Paid-subscriber decline brings renewed focus on password-sharing as streaming leader seeks to boost revenue

More Netflix viewers watched dubbed versions of the South Korean drama “Squid Game” than subtitled versions. WSJ met one of the show’s English-language voice actors to see how dubbing foreign content is fueling the streaming giant’s growth. Photo Illustration: Sharon Shi

香蕉视频苹果下载When it comes to streaming, 222 million seems to be the new sound barrier.

Paid subscribers to Netflix would have just surpassed that number if not for the company’s suspension of its service in Russia during the first quarter. Including that impact, Netflix actually saw quarterly paid subscribers fall for the first time in years. The company also used its first-quarter report Tuesday afternoon to project an even bigger drop of 2 million subscribers during the second quarter, which will incidentally include the newest season of “Stranger Things”—one of its most popular shows.

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