Netflix is the best video streaming giant nowadays with millions of shows and movies available to watch. There are different genres that have content for everyone to watch. However, Netflix is experiencing a loss in revenue lately. To cope with this loss, the giant is working on Netflix password sharing options to gain more revenue.
Say NO To Netflix Password Sharing
So, forget about buying one and share it with all because Netflix does not allow it anymore. The users can only use Netflix accounts for themselves without sharing their accounts with anyone. Now, the streaming app might require your biometric proof to authenticate your presence.
The leading research and advisory company, CCS Insight, has speculated that the users will have to give fingerprint or face recognition to use their account on some other device. According to CCS Insight, Netflix has been going through a major loss of revenue because of account sharing issues.
To cope with his issue, Netflix introduced a policy of an additional fee for adding a member to your account. The fee is probably going to be a quarter of the full fee but it is not confirmed yet. But, these struggles are not doing any help for the company.
It lost almost one million subscribers in the first half of the year. It is so because of the increased competition from other streaming platforms like HBO Max, Amazon Prime, Disney+, and Apple TV. Therefore, Netflix has decided to rely on an ad-based model with Microsoft to increase its profits.
Will It Help?
Netflix is doing everything to retain its existing subscribers but that is not helping. Other apps do not have such strict password-sharing policies. But, ever since, Netflix password sharing options are strict, and people are switching to other sites where they could share the account. This biometric system will definitely help in reducing account sharing but Netflix needs to come up with better strategies to attract customers.