Affected account holders will receive a warning from Netflix in the form of an email before their accounts are deactivated. Notifications will start arriving this week.
"We're asking everyone who has not watched anything on Netflix for a year since they joined to confirm they want to keep their membership," Mr Wu said.
Netflix will retain viewing data from deactivated accounts, so if a user wants to re-subscribe at a later date they will be able to access their individualised preferences.
The company has seen subscriber numbers surge this year, as lockdowns around the world keep people at home, where they want to be entertained.
Almost 16 million people created accounts in the first three months of the year, nearly double the new sign-ups it saw in the final months of 2019.
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