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Sharing your Netflix account password with others? You may be in trouble. The OTT platform is all set to roll out a new scheme and you will have to pay through your nose.
Netflix is trying every possible way to end account password sharing without making subscribers to flee the platform! Last year, Netflix announced plans to launch a crackdown on password sharing, but the solution was not very tough on subscribers. Netflix has now confirmed that later in Q1, it will start rolling out paid sharing accounts, but it hasn’t revealed the date. If that does happen, Netflix will start asking you to pay extra charges for sharing your Netflix account password with others. “Today’s widespread account sharing (100M+ households) undermines our long-term ability to invest in and improve Netflix, as well as build our business,” Netflix added in a letter to shareholders. So, if you are enjoying Netflix shows and movies via someone else’s account, then there are chances that you will soon have to create your own login soon enough!
“While our terms of use limit the use of Netflix to a household, we recognize this is a change for members who share their account more broadly. As we roll out paid sharing, members in many countries will also have the option to pay extra if they want to share Netflix with people they don’t live with,” Netflix added. There is no news on how much the “paid sharing” subscription will be costing.
Netflix ad-supported plan
Apart from this, Netflix launched a new lower-priced ad-supported plan in 12 countries last year. This comes as a cheaper plan to continue binge-watching your favourite shows. Netflix says that both consumers and advertisers have shown positive responses to the ad-supported plan and OTT hopes to generate incremental revenue and profit, though the impact in 2023 will be modest given that this will build slowly over time.
“We believe branded television advertising is a substantial long-term incremental revenue and profit opportunity for Netflix, and our ability to stand up this business in six months underscores our commitment both to give members more choice and to reaccelerate our growth,” Netflix added.
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