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Giving passwords to friends will increase the cost, Netflix’s master plan to save business

Vivid News 24: Netflix is ​​one of the most popular video streaming platforms in the world. But the number of subscribers of this streaming service has gradually decreased this year. Password sharing is a long-standing trend among Netflix subscribers.

Friends and loved ones have a longstanding habit of watching movies and series on this streaming platform with the same password. And because of this, the warehouse of the company is going to be empty. The US Company is going to bring a new approach to save the business. Netflix will take stricter measures to stop password sharing by 2023.

A recent report published in The Verge said that the popular video streaming company will introduce a new feature to stop password sharing. Customers must create subaccounts within the same account. Each sub-account will incur an additional fee.

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Netflix had 22.3 million subscribers worldwide in the July-September quarter. The company said that the number of customers has increased slightly due to several strict measures taken in the last few months. Netflix gained nearly 1 million new subscribers in the US and Canada in the third quarter of this year.

At the beginning of this year, Netflix had its first subscriber decline. This is the first time in over a decade that the popular streaming service has seen a drop in subscriber numbers. The US Company is reeling as the number of customers decreases.

At that time, the company’s officials said that the company was hit by the trend of excessive password sharing among customers. After that, Netflix began to take various strict measures worldwide to stop password sharing among customers.

A few months ago, Netflix tested special measures to prevent password sharing in Chile, Costa Rica, and Peru. Logging into Netflix from any other device outside of the home in these countries incurs additional charges.

Netflix has also recently introduced a cheaper basic plan to retain customers. The US streaming company will show in-video ads in this plan. The cheapest plan in the US starts on November 3. This will cost USD 6.99 (roughly Rs. 580) per month.

In addition to the United States, Netflix has launched this cheap plan in Australia, Brazil, Canada, France, Germany, Italy, Japan, Korea, Mexico, Spain, and the United Kingdom. The streaming company has also tied up with Microsoft to show 15-30 second ads between videos.

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Vivid News-24 Desk
Vivid News-24 Desk
Vivid News-24 News India's new growing news website. Which provides some specific categories of news, top world news, entertainment, sports, new technology, politics etc.
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