New Delhi: Do you share your Netflix login with a friend or co-worker? If yes, the streaming giant will start charging you for password sharing early next year as part of its increased attempts to compel rogue subscribers to pay up.
Netflix stated in a letter to investors that “additional member” subaccounts would be made available by the beginning of 2023.
“We’ve landed on a thoughtful approach to monetizing account sharing, and we’ll begin rolling this out more broadly starting in early 2023. After listening to consumer feedback, we are going to offer the ability for borrowers to transfer their Netflix profile into their account, and for sharers to manage their devices more easily and to create sub-accounts (“extra members”) if they want to pay for family or friends,” the company announced in the letter.
“In countries with our lower-priced ad-supported plan, we expect the profile transfer option for borrowers to be especially popular,” the OTT platform further said. The corporation didn’t mention the price of these new extra account fees.
Last week, Netflix said a subscription option subsidised by ads will debut in November in a dozen countries as the streaming service strives to jumpstart growth. In a briefing, Netflix chief operating officer Greg Peters said that basic ads subscriptions will cost $6.99 in the United States, three dollars less than the basic option without ads.
“The timing is great because we are at this pivotal moment in the entertainment industry and the evolution of that industry,” Peters said. “Now streaming has surpassed both broadcast and cable for total TV time in the United States.”
The ad-discounted tier, a first for Netflix, will roll out in Australia, Brazil, Britain, Canada, France, Germany, Italy, Japan, South Korea, Mexico, Spain, and the United States.
