Netflix Will Charge Users Who Share Their Passwords With Peo...| MENAFN.COM

Saturday, 03 December 2022 04:30 GMT

Netflix Will Charge Users Who Share Their Passwords With People Outside Their Households

(MENAFN- Khaama Press)

Netflix will charge users who share their accounts with people outside of their households.

A few weeks after Netflix
raised the price of its monthly subscriptions
in the U.S., the company said it is testing a new feature that will charge customers an extra fee for the ability to share accounts.

Netflix said the new option will be tested over the next few weeks in Chile, Costa Rica, and Peru before it introduces changes in other countries.

“While these [household plans] have been hugely popular, they have also created some confusion about when and how Netflix can be shared,” Chengyi Long, Netflix's director of product innovation, said Wednesday.“As a result, accounts are being shared between households—impacting our ability to invest in great new TV and films for our members.”

Existing subscribers will be able to add sub-accounts for up to two people they don't live without an additional cost, she added. In Costa Rica, the feature will cost $2.99 a month, with users in Chile and Peru being charged the local equivalent.

Netflix shares rose 3.9% on Thursday. The stock has lost nearly half its value from its all-time high in mid-November. Analysts have attributed much of that decline to Netflix's slowing subscriber growth. The company
registered 24% average paid subscriber growth
annually from 2016-to 2020 but managed only 9% growth last year.

Netflix is also facing increased competition among streaming platforms and rising programming costs. The company is spending more on content to attract and keep subscribers as viewers have more content to choose from thanks to a crowded field.

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