Former Netflix CEO Reed Hastings revealed that the password-sharing option would be removed by Netflix in 2023. This new development left everyone in a daze, as many rely on password sharing to watch their favourite shows and movies. The new co-CEOs, Greg Peters and Ted Sarandos have disclosed more details about this predicament. The main points of the announcement include: “In more nations, Netflix is banning the sharing of passwords.” Password sharing will probably end as of March 2023. Recently, Netflix unveiled a subscription option with ads.
Netflix recently introduced an ad-supported subscription plan in a few markets in an effort to increase revenue and subscriber numbers. The password-sharing business has been discontinued by the streaming platform in some markets. At the end of 2022, Reed Hastings, the former CEO of Netflix, confirmed that password sharing would be eliminated for everyone gradually. Netflix password sharing will soon come to an end for all users, as stated in an interview with Bloomberg conducted by the company’s new co-CEOs, Greg Peters and Ted Sarandos.
This suggests that Netflix subscriptions for Indians who currently rely on friends and other people will soon require payment. According to the report, Peters believes that the vast majority of Netflix users who do not currently pay will be required to do so in the near future.
Peters revealed that even after implementing controlled password sharing, the streaming platform will not negotiate in good faith with the user. He noted that many customers would be dissatisfied once password sharing was restricted globally, but the CEO emphasized growing the subscriber base by 15-20 million, with an emphasis on nations like India. Peters continued by saying that he would like to see all users who do not currently pay for Netflix eventually have to pay for the media they access.
For the benefit of those who are unaware, Netflix has been testing the abolition of password sharing in a number of Latin American nations, including Costa Rica, Chile, Peru, and others. Customers in these countries must pay $3 (approximately Rs 250) to use a friend’s Netflix account. The streaming platform hasn’t specified how much it will charge per user in India, but it’s possible that the price will be very similar to the prices charged elsewhere in the world. The choice will eventually expire for Indians as well. As reported by the most recent reports, Netflix plans to stop sharing passwords with other industries starting in March 2023.
The question of how Netflix will spot freeloaders is still open for discussion. Netflix previously explained how it would use IP addresses, device IDs, and account activity to enforce the new password-sharing rule. In this fashion, the streaming service will recognize users who are not residents of a specific household and want to access free Netflix content.
The video streaming service is testing out different strategies to grow its subscriber base. One such effort is to exclusively prohibit the sharing of passwords. Introducing an ad-supported plan is another option. In an effort to attract patrons who don’t want to pay a lot for a Netflix subscription, Netflix recently launched a new affordable, ad-supported plan at $6.99 in the United States. Netflix offers four subscription plans in India for Rs 149, Rs 199, Rs 499, and Rs 649.
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