## Ask your DM

We have been playing it as described in 1., stuck in the webs, which has not caused any issues. 

The strict RAW outcome would be 2. Spells only do what they say they do. The spell does not say the creature is fixed in place, and neither does the *restrained* condition, which merely states your speed is 0. A speed 0 flying creature without hover or special magic [will fall][1].  So the strict RAW interpretation seems to indicate the creature would fall. By the core rules, [you fall straight to the ground][2], as if there were no webs in the way. 

Xanathar has alternate optional rules by which [you fall just 500 feet][3], and with a [reaction from a readied action][4] you might be able to resume flying when you use those rules as you leave the web. These questions have already been answered separately. 

The webs count as difficult terrain. Difficult terrain’s rule effect is merely that *you move at half speed*. 
By strict rules, falling [does not count as movement][5], so you would fall at normal speed. You could interpret this as the webs being too thin to slow the rate of falling.

If I were to rule about falling damage from falling out of webs, I would likely ignore that unintuitive outcome and say that the creature is dragged down through the web at reduced speed, and limit potential falling damage to the height of the fall after they left the webs. But we don't have this issue as we use interpretation 1. 


  [1]: https://rpg.stackexchange.com/questions/148386/can-flying-creatures-stay-in-one-place-while-airborne-even-if-they-dont-have-h
  [2]: https://rpg.stackexchange.com/questions/59359/when-does-a-flying-creature-start-and-end-falling
  [3]: https://rpg.stackexchange.com/questions/75954/how-far-do-you-fall-per-turn
  [4]: https://rpg.stackexchange.com/questions/86534/can-a-flying-character-choose-to-fall-and-then-use-a-reaction-to-stop-falling-b
  [5]: https://rpg.stackexchange.com/questions/121584/does-deliberately-falling-cost-movement