The company did not say what it will charge for a password sharing fee, nor did it indicate how it will crack down on the practice.
, said it intends to “more broadly” roll out its crackdown on password sharing with people who live outside of subscriber households in the first quarter of 2023. It estimates more than 100 million households share accounts.
“Today’s widespread account sharing undermines our long-term ability to invest in and improve Netflix, as well as build our business.” the company said in its letter. “While our terms of use limit use of Netflix to a household, we recognize this is a change for members who share their account more broadly.” The company said it expects some users will cancel their accounts, but that others who are sharing will be able to transfer a profile to a new account.“We believe the pattern will be similar to what we’ve seen in Latin America, with engagement growing over time as we continue to deliver a great slate of programming and borrowers sign up for their own accounts,” the company told shareholders. The company did not say what it will charge for a password sharing fee, nor did it indicate how it will crack down on the practice. But Netflix can tell when people log in outside their household based on their IP address.In 2021 it tried a verification process that involved sending messages to subscribers when they logged in. In 2022 it tested creation of sub-accounts for people in other households for a fee and a system that allowed them to transfer their profile information to other devices. In the letter to shareholders, the California-based company described 2022 as a tough year “with a bumpy start but a brighter finish” and expressed optimism for 2023. Revenue for the fourth quarter of 2022 exceeded forecasts, the company said. Netflix finished the year with 231 million paid memberships and generated $32 billion in revenue. “We believe we have a clear path to reaccelerate our revenue growth: continuing to improve all aspects of Netflix, launching paid sharing and building our ads offering,” the company said. “As always, our north stars remain pleasing our members and building even greater profitability over time.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Range Rover Sport Review 2023Why is the LandRover_UK Range Rover Sport our Luxury Car of the Year? ✅Incredible off-road ability ✅Sumptuous interior ✅Fantastic range on PHEV model Read our full review for more 👇 WhatCarAwards
Read more »
Loewe Men’s Fall 2023'Less is more, but in a new way,' said designer Jonathan Anderson, who unveiled another LoeweOfficial stunning, thought-provoking menswear collection.
Read more »
Sacai Men’s Fall 2023 and Women’s Pre-Fall 2023At the Sacai men's show there were some terrific colors and silhouettes that will definitely work eight months from now, if not in 80 years' time.
Read more »
Cathie Wood: Ark dumps 500K GBTC shares, adds Coinbase stock as Bitcoin recovers 40%Cathie Wood's Ark turned bearish on GBTC but remains bullish on Bitcoin, COIN stock.
Read more »