Netflix has finally announced a long-promised crackdown on password sharing.
According to the New York Post, the major streaming service will formally start charging more for account sharing in early 2023.
Netflix announced plans to introduce subaccounts, which will force subscribers to pay an additional fee to share access to their accounts with friends and family, next year in a letter to shareholders.
However, the streaming giant hasn’t provided a price range for additional member payments.
Netflix hinted at the increased costs for account sharing in April and stated, “We’ve landed on a thoughtful approach to monetizing account sharing and we’ll begin rolling this out more broadly starting in early 2023.”
The streaming giant Netflix executives further mentioned, “After listening to consumer feedback, we are going to offer the ability for sharers to manage their devices more easily and to create sub-accounts, if they want to pay for family or friends.”
Netflix is one of the most in-demand paid live video streaming platforms. It is the second-largest video streaming service in the world after YouTube, offering its users a variety of popular, high-quality movies, TV episodes, documentaries, and much more.
It is a service that requires a subscription, to use the platform; you must create an account and make a monthly payment.
Through an internet connection, Netflix may be accessed on any smart device, including smartphones, laptops, tablets, and iPads. You can choose to download your favorite television series and films so that you can watch them later or when there is no internet connection.