Netflix to soon charge you for sharing passwords with other households
Netflix is currently cracking down on multiple households sharing their passwords on a single account, but only in some markets. Following its latest financial report that showed a decrease in paying subscribers and sent the stock tanking some 35%, the company pledged to go after all of its subscribers doing this. And there is no shortage of those, to be honest.
According to Netflix, around 100 million households share passwords. All of those are a missed opportunity and the company argues that this is the root cause of this quarter's decline in paid subscribers. According to its estimates around 200,000 users left the platform or decided to join one of the password-sharing accounts.
Of course, password-sharing practices exist on a spectrum. Some use the passwords for occasional viewing while others watch Netflix on a daily basis. That's why some of the accounts won't be monetized but the streaming service will surely try to crack down on those that systematically break its terms of service.
It has been projected that the platform will lose about 2 million paying subscribers over the next quarter but subscriber growth will resume in the second half of 2022.