Netflix is getting ready to crack down on password sharing
Get ready for some consequences folks, Netflix wants to crack down on all the password sharing. By their estimate over 100 million households are sharing passwords and Netflix is getting ready for a global crack down. Depending on who has access to your password it could be a bad thing or a good thing. Netflix has warned they would do something like this in the past but they say they mean it now. They basically felt like allowing the password sharing to go under the radar helped to get potential customers hooked on the service. With so many new streaming services available now however, it must be time to collect on all that missed monthly revenue.
"Our relatively high household penetration — when including the large number of households sharing accounts — combined with competition, is creating revenue growth headwinds," Netflix said in its letter. "Account sharing as a percentage of our paying membership hasn't changed much over the years, but, coupled with the first factor, means it's harder to grow membership in many markets — an issue that was obscured by our COVID growth." According to a recent Cnbc article.
Everything was share and share alike during quarantine but since they saw the first loss of subscribers in over 10 years at the end of this March and are projected to lose more, it's time to take action.
In the past Netflix has always been pretty lackadaisical about password sharing for a few reasons. For one, there's plenty of legitimate password sharing in households between husbands and wives, children, ext... and for two, they've felt like brand grew and was seen a very customer friendly light as a result of the blatant lack of action after admitting they knew it wsd going on figured they weren't in a place where they needed to be worried about it.
The company reportedly already started testing ways to deter password sharing in other countries and are looking at expanding globally as early as 2023. That means if they sus out that you've been sharing your password out og household, they could begin charging you extra.
Honestly, I've gotten my monies worth out of Netflex ten times over and I wouldn't bat an eye lash if they did decide to do that. They're a good streaming company, the OG, if you will, of streaming platforms and you betta have their money when they come to collect baby!