By 2023, Netflix wants to allow users to create sub-accounts as part of its “monetizing account sharing” strategy. Yes! you heard it right. Netflix password sharing crackdown will be implemented from 2023 and the company will charge for password sharing!!
The company that provides video streaming recently disclosed that it had 2.41 million customers in the previous quarter (July-September).
A well-known streaming service, Netflix, announced that it would begin strictly enforcing its password policy in early 2023.
The Verge reports that as part of their “monetizing account sharing” approach, Netflix plans to start enabling customers to create sub-accounts in 2019. According to the company’s shareholder letter from October, Netflix will start charging for password sharing in the first quarter of 2023. So, from early 2023 Netflix’s password-sharing crackdown will start.
Netflix did notify you about this!!
Authorities revealed in April that, based on their calculations, over 30 million homes in the United States and Canada were accessing Netflix via shared passwords, even while the company was losing subscribers and its stock price was dropping.
After examining several strategies to prevent account sharing, they’ve unveiled new features they hope will drive users to start making payments. Anyone who uses a customized profile to watch Netflix content on another person’s account can add that profile to their account.
For the Netflix algorithm to continue recommending things like fresh episodes of Selling Sunset or the most recent teen rom-com, the function, which became accessible to users on Monday, helps to preserve a person’s data, including settings and watching history.
Customers will be able to help out their freeloading friends and family members thanks to the streaming service.
Customers will be able to pay a small fee to add “additional members” to their bundle starting in 2019.
Although adding these subaccounts to an existing plan costs less than $3 per month in the nations where it was tested earlier this year, the business hasn’t disclosed how much it will cost US customers. The only option left is Netflix’s crackdown on password sharing.
Netflix Password Sharing Crackdown: For the first time, subscriptions are being lost
In an April shareholder letter, Netflix stated that after losing members for the first time in over a decade in the first quarter of 2022, tightening down on password sharing would be a “huge potential” for future revenue development.
Password-sharing income loss has hampered the company’s ability to “invest in fantastic new TV and films,” it stated in March.
Due to a busy release schedule that included recent serial killer drama Dahmer—Monster: The Jeffrey Dahmer Story by Ryan Murphy, the action movie The Gray Man, and new Stranger Things episodes—all of which have become some of the service’s most well-known works ever—Netflix has recovered, adding 2.41 million subscribers between July and September.
The best strategy for attracting new customers is to introduce must-watch programming. Nevertheless, it will help if Netflix cracks down on password sharing since customers will start paying.
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