March 4, 2024

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The dice are rolled: Netflix will phase out free shared passcodes in the coming months

FILE PHOTO: A character from the popular Netflix series La Casa de Papel. Environmental Protection Agency, Bilawal Al Arab 2070

What NETFLIX has been promising for so long is its cancellation Password Sharing, is now set to launch in the coming months, the company announced.

The new plan means that subscribers who want to share their bills with people outside their household will face an additional fee.

The move, aimed at increasing subscribers, has already been tried in some countries but has not yet been implemented in the UK or the US.

Netflix is ​​looking for ways to reignite its growth, which has slowed sharply as competition intensifies, households struggle with rising costs of living and the company approaches what analysts see. saturation point, At least in the big markets.

NETFLIX LOST OVER million subscribers In the first six months of 2022.

Although it made up for those losses later in the year, buoyed by gains brought in by new subscribers in Asia, the downturn shook the company and led to changes.

It first introduced a less expensive ad-supported subscription option (last year) and slashed prices in 116 countries for three months in an effort to entice more people to sign up for its service.

However, in a letter distributed to investors on Tuesday, Netflix essentially announced that codeshare will now be paid for in the US by July.

The company has not confirmed when UK users can expect similar changes, but has indicated that the vast majority of its major markets will be included in the next phase.

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Netflix found out More than 100 million families Sharing passwords is in violation of their official rules. And it is this audience that they hope to leverage to increase their profits.

In Canada, adding an Account costs $7.99 CAD ($5.95 USD) per month in addition to the cost of a standard or premium monthly subscription.

In Portugal, sharing the code costs €3.99 and in Spain €5.99.

The company warned investors to expect some cancellations as it changes its subscription framework, but sounded optimistic that “long-term, paid participation will ensure a larger revenue base from which we can grow by improving our services.”

with information from BBC

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