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HomeWorldNetflix plans to tighten 'password sharing' in 2023

Netflix plans to tighten ‘password sharing’ in 2023

Netflix intended to increase income growth through paid password sharing “more broadly” in 2023

MoneyControl claims that the dominant streaming company would launch compensated password sharing “more broadly” in Q1 2023.

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The business previously considered several strategies to combat password sharing.

The effort was also tested by Netflix in a few other nations, and the company anticipated that it would have a short-term negative impact on member growth but ultimately enhance overall revenue.

“Based on our experience in Latin America, we anticipate some cancel reactions when we introduce paid sharing in each area, which has an immediate impact on member growth.”

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However, we anticipate improved overall income, which is our goal with all plan and pricing modifications, more borrower households start to activate their standalone accounts and more member accounts are added, Netflix stated in its shareholder letter.

Members will be able to pay extra fees through the paid sharing function if they want to share their Netflix account with someone they don’t live with.

Netflix, meanwhile, had a successful year in 2022, adding 7.66 million new users during the quarter to bring its total global subscribers to 230.75 million.

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