In 2023, Netflix is Going to Make it Much Harder to Share Your Password
Beginning in early 2023, Netflix is cracking down on password sharing to encourage users to make their own accounts.
The fall of Netflix password sharing is coming. Amid a loss of profits and declining subscribers, the streaming service is about to implement a crackdown on sharing passwords in early 2023, according to reports.
However, it's rumored that multi-users will also have the option to continue password sharing – for an extra fee. The platform has tested $3 add-on in some Latin American countries, but it's possible that Netflix will force users to sign up for a separate account for a slightly lower-priced subscription. The tactic may consist of Netflix possibly charging a bit lower than its current $6.99 ad-supported plan, which shows four to five minutes of ads per hour of content that users watch.
The enforced rule against password sharing has been in the works for some time, as the service nearly a million subscribers between April and July when more users decided to unsubscribe. It's estimated that 222 million paying households share passwords with an additional 100 million households that Netflix wants to monetize.
During a third-quarter meeting in October, Netflix claimed that it had added more than 2.4 million subscribers, generating $7.9 billion in revenue. The gain marked substantial win after the streaming service lost 200,000 users in the first quarter and nearly one million in the second, per The New York Times.
“After a challenging first half, we believe we’re on a path to re-accelerate growth,” Netflix said in its quarterly letter to shareholders. “The key is pleasing members.”