Netflix Strengthens Efforts to Prevent Password Sharing, Aims to Boost Revenue

(MENAFN) Netflix has taken further steps to combat password sharing among its users as it seeks to bolster its revenue as the leading streaming television service. In a statement, the company emphasized that a Netflix account is intended for use by a single household, extending beyond immediate family members.

Earlier this year, Netflix revealed that over 100 million households were sharing accounts, which had a detrimental impact on the company's ability to invest in new and captivating TV shows and films. In response to this issue, Netflix had previously experimented with "borrower" or "shared" accounts in select markets, allowing subscribers to add additional users for a higher price or transfer viewing profiles to separate accounts. However, on Tuesday, Netflix announced the expansion of its account sharing policy to over 100 countries.

As Netflix experienced a slowdown in growth last year, the streaming giant sought to encourage those using shared passwords to become paying subscribers without alienating existing users. Co-chief executive Ted Sarandos explained that this account sharing initiative aims to expand the potential pool of paying members, ensuring long-term growth for Netflix.

While Netflix had previously delayed a comprehensive crackdown on password sharing to enhance the user experience, the company has now taken additional measures. It has ensured that subscribers can seamlessly access the service from anywhere and on various devices such as tablets, TVs, or smartphones.

In April, Netflix reported a record high of 232.5 million subscribers in the first quarter of the year, and its ad-supported tier was performing well. By actively addressing password sharing, Netflix aims to solidify its financial standing and continue offering a wide range of captivating content to its global audience.


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.