The streaming video pioneer had launched a US$7-per-month option with commercials last November in 12 markets, including the US, as an alternative to ad-free plans.

'A Netflix account is for use by one household,' the company says.

South Korea has cemented its status as a global cultural powerhouse in recent years, thanks in part to the explosive success of the Oscar-winning film 'Parasite' and the hit Netflix series 'Squid Game'.

The streaming television giant reported a quarterly profit of US$1.3 billion, in line with expectations.

After Netflix co-founder Reed Hastings stepped down as CEO, Netflix's new co-leaders - Ted Sarandos and Greg Peters - will be charged with maintaining a culture that has become a Silicon Valley standout.

Lee You-mi won the accolade for guest drama actress at the Creative Arts Emmys for playing Ji Young, a young woman forced to compete in a risky quest for riches after she is freed from prison in the dystopian Netflix Inc series.

The worst possible fate in this 456 player competition will be leaving without the US$4.56 million winnings.

This is the first time in a decade that the leading streaming television service has lost subscribers.

Hwang Dong-hyuk is also working on a film about killing old people which he says is 'even more violent than Squid Game'.

It says it will study the utility of the new model in three countries before making changes anywhere else.

The regulations, overseen by Russia's communications regulator require audiovisual services with more than 100,000 subscribers in that country to distribute 20 free-to-air news, sports and entertainment channels.

Life is returning to something approaching normality in many countries, leaving companies like Netflix and Peloton struggling to sustain high sales figures.