Heartbreaking news for all the people who had been using their friends’ Netflix subscriptions. Extending beyond the US, the streaming giant unveiled its plans to cease password sharing in over 100 countries to shore up revenue. The platform intends to limit password lending and roll out an ad-supported subscription option with a focus on combating market saturation and exploring new revenue streams.
On Tuesday, the streaming platform sent emails to clients in 103 nations and territories, including well-known ones like the United States, Britain, France, Germany, Australia, Singapore, Mexico, and Brazil. These emails outlined that Netflix subscriptions are intended to be used solely by a single household.
In case anyone wants to share their password with a member outside of their family, Netflix has given them the option to give an additional monthly fee, in order to ease the transition. This charge is set at $8 (or 660) in the US. Members have the option to transfer a person’s profile, preserving their viewing history and customised recommendations, to ensure a seamless experience.
Also Read: JioMart Announces Layoffs, With 1,000 Employees and 500 Executives Asked to Resign, Says Reports
The aforementioned measures are being taken as Netflix tries out new tactics and regulations to combat the pervasive practice of account sharing, which is thought to affect over 100 million households worldwide. A total of 232.5 million paying subscribers were listed as Netflix’s subscriber base as of March.
Although Netflix has increased its efforts to crack down on password sharing in many nations, including important markets, it appears that these measures have not yet been implemented in the Indian market. The Indian market, however, is expected to see the implementation of such a crackdown soon.
Also Read: Investors In Adani Shares Have Gained Rs 1.8 Lakh Crore In Just Three Days
Also Read: PhonePe Secures $100 Million Investment from General Atlantic in Ongoing $1 Billion Funding Round
