Netflix is the best streaming app nowadays. The users can watch all the latest and classical movies and TV shows in HD quality. To enjoy binge-watching, users did Netflix password sharing so more people could use the account simultaneously while paying for one only. But, Netflix is making hard decisions regarding this sharing scheme to cope with diminishing revenues.
The company had been going through a loss of revenue due to Netflix password sharing. multiple users accessed Netflix from the same account which reduced the number of subscriptions for the platform, resulting in a loss in the accounts of Netflix.
It is currently testing a new method in Latin America to cope with the floating revenue. The users will have to pay a password-sharing fee for allowing more people to use one account. Although the company has initially received a backlash from users, Netflix’s earning reports suggest that it will help the company in maintaining its revenue.
Implementation of Netflix Password Sharing Fee
After initiating this measure in Latin America, it will consider launching it outside the region too. According to the company’s reports, it will implement this Netflix Password sharing fee by the end of March this year.
Netflix is giving leverage to users who want to share passwords with people living in the same household. The earning report mentions, “the option to pay extra if they want to share Netflix with people they don’t live with.”
However, there are no details regarding pricing. For that, we have to wait till the official announcement from the company.
Netflix is not letting people stop sharing their accounts. It is only going to charge an extra fee and verify the shared accounts. If anyone wants to share an account, a verification code will be sent to the account holder to verify the password sharing.
Even after the verification, Netflix will still keep a check on the payment. Unless the Netflix password sharing fee is paid, users will not be able to share the account. Earlier Netflix had also introduced biometric proof for verifying password sharing.