This comes on the heels of the streaming service losing subscribers.

According to reports, Netflix is cracking down on password sharing amongst its subscribers. On Tuesday, Netflix CEO Reed Hastings said they will end password sharing in the next year or so, but a concrete plan wasn't announced.

"Those are over 100 million households already are choosing to view Netflix," Hastings said. "They love the service. We’ve just got to get paid at some degree for them."

This comes on the heels of the streaming service announcing that it's losing subscribers, estimating that roughly 100 million households are using Netflix without paying for it.

A test to stop password sharing was introduced in Chile, Peru, and Costa Rica, which allows for subscribers to add up to two people living outside their household to their account for an additional fee. These tests are not taking place in the United States.

Netflix announced it lost 200,000 subscribers from January through March. The streaming service expects to lose another two million between April and June. Netflix's stock dropped 25% Tuesday.

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