Netflix Lost Viewers For The 1st Time In 10 Years, Says Password Sharing Is To Blame

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Netflix Lost Viewers For The 1st Time In 10 Years, Says Password Sharing Is To Blame
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The entertainment company estimates there are now 100 million households using someone else's account. Last month, it announced plans to start charging for password sharing.

The company said it sees the popularity of password sharing as an opportunity to convert more viewers into paying customers.

Last month, Netflix said it won't ban password sharing, but it plans to start charging for it. It will be testing the change in three countries: Chile, Costa Rica and Peru. For 2,380 Chilean pesos, 2.99 U.S. dollars and 7.9 Peruvian sol, respectively, users can add up to two profiles.Become a sponsor

The company has experienced higher streaming numbers since the COVID-19 pandemic, but said in its statement that the boost has"obscured the picture until recently."

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