Netflix Ends Password Sharing 2023: Due to recent crackdowns on sharers, there have been rumors that Netflix intends to ban password sharing entirely. However, the streaming service has so far appeared reluctant to take any significant action for fear of losing customers. In 2023, that will change. Netflix recently announced that it would permanently end password sharing next year, which means everyone who wants to join it must pay for it. Membership losses likely prompted this decision.
According to the corporation, over 100 million Netflix subscribers use passwords they borrow from friends and family to access the service. Starting in 2023, this agreement will end, and users will have to pay for sharing accounts. The corporation believes that the change will start to roll out in the nation early next year, suggesting that the United States could be used as a trial ground for the choice.
In a few Latin American nations, Netflix has already begun experimenting with additional costs for password sharing, charging another $3. Anyone outside the family wishing to access the account must obtain a verification number from the actual subscriber in these nations. Netflix continually asks the user outside the home for the code, even though the code is not free.
Once the adjustments are implemented, a comparable implementation might be seen in the US in 2023. To encourage account sharers to sign up for their subscriptions rather than expecting the actual owner to pay for them, Netflix is considering charging them a charge that is only a little bit less than the $6.99 ad-supported plan. Netflix will use IP addresses, device IDs, and account activity to ensure customers don’t circumvent the password-sharing restrictions.
Netflix will end password sharing in early 2023, affecting 100M users.
(Source: https://t.co/dY7e7SfXFY) pic.twitter.com/YZbnfbGaac
— DiscussingFilm (@DiscussingFilm) December 22, 2022
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Why Has Netflix Stopped Giving Passwords
According to a Wall Street Journal report, Netflix has long been aware of the negative consequences password sharing has on its bottom line but has been holding off on taking action out of concern for upsetting customers. Following the epidemic, Netflix decided not to address the issue, which resulted in increased subscriptions in 2020. However, the service is currently in trouble because it has lost subscribers.
Netflix reported in its Q1 2022 earnings report earlier this year that it lost 200,000 customers as a result of tough competition and the conflict in Ukraine. The corporation had stopped offering its services in Russia, which cost it 700,000 consumers. The company lost the most members ever—nearly 1 million—during the second quarter, making things even worse. Following the report’s publication, Netflix’s shares fell 26%, wiping off roughly $40 billion in market value.
However, the third quarter of 2022 provided much-needed relief as the business reported adding 2.41 million global subscribers. The decision to eliminate password sharing was made after Netflix CEO Spencer Neumann stated during the company’s earnings call that they are “still not growing as fast as they’d like.”
It is still unclear how much the change will help Netflix and whether it will result in more cancellations.
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