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Netflix plans to end password sharing in early 2023, a move that is expected to affect close to 100 million customers. The streaming giant has long tolerated the practice of sharing passwords, but as the company continues to grow and face increased competition, it has decided to crack down on password sharing in order to boost its revenue.
According to The Wall Street Journal, Netflix is expected to make an extra $721 million from the plan. This move comes as the company faces mounting pressure to increase its revenues, as the cost of producing and acquiring content continues to rise. In addition, Netflix is facing increased competition from other streaming services, such as Disney+ and HBO Max, which are both offering attractive content at lower price points.
To implement the plan, Netflix is expected to introduce a new feature that will allow users to set up separate profiles within a single account, each with their own login information. This will make it more difficult for users to share passwords and will allow Netflix to track usage more effectively.
While some users may be disappointed by the move, it is likely that the majority of Netflix’s customers will be willing to pay for their own subscriptions in order to continue accessing the service. For those who are unable or unwilling to pay for a separate subscription, there are many other options available, including free trials and discounted rates for students and military personnel.
The move to end password sharing is a smart one for Netflix, as it will help the company to increase its revenues and continue to grow in the face of increasing competition. While it may be a bit of a hassle for some users, it is a necessary step for the company to take in order to ensure its long-term success.