Netflix is poised to crack down on account sharing. What happens now?

The free-viewing party is over at Netflix.

After years of dominance in streaming, Netflix’s foothold is crumbling: It is hemorrhaging subscribers within the overstuffed field of competitors and giving up a chunk of its business as it backs out of Russia. Its stock tumbled 35 percent Wednesday, wiping out tens of billions in market capitalization, after Netflix announced its first quarterly loss in subscribers in a decade. (By its own estimation, Netflix had expected to add 2.5 million subscribers.)