Netflix is officially putting an end to password sharing beginning in 2023.
This means that any users who were previously engaging in borrowing logins and passwords will no longer be able to do so. This measure aims to reduce piracy while safeguarding all Netflix accounts’ security.
Join Project Casting to access jobs you can apply to right now.
The Wall Street Journal recently announced that Netflix is soon terminating the practice of password sharing.
Having gained a surge of subscribers during the pandemic, the company has since recognized password sharing as an urgent issue that needs to be rectified. Per reports, it will begin asking for extra payment from shared accounts in 2023, and this could affect U.S. users at some point early next calendar year.
“Make no mistake, I don’t think consumers are going to love it right out of the gate,” This month, Netflix Co-CEO Ted Sarandos enlightened investors with his expert insights.
After the launch of Netflix’s “Basic with Ads” tier at $6.99/month, and their update on customer help pages requiring customers only to share accounts if they live together, Cowen Inc. analysts have declared that the streaming giant is now set on taking a tougher stance against bill sharing to protect its revenue growth. It is estimated that the switch will create an extra $721 million in revenue throughout North America next year. However, some view this as a short-term gain with potentially damaging long-term financial repercussions.
Please keep your eyes peeled for further news from Netflix regarding the official date and cost related to its password-sharing policy.
Why is Netflix stopping password sharing?
For years, Netflix users have been able to share accounts with friends and family without consequence. But recently, the streaming giant has announced that it is taking steps to end password sharing by
2020. If you’re a current user of someone else’s Netflix login, here’s why this policy shift is happening and what you can expect in the near future.
The primary reason behind this move is monetary: by cutting off access to third-party logins, Netflix stands to make more money from subscription fees as people will be forced to purchase their own accounts if they wish to continue using the service. Additionally, the company wants to reduce instances of fraud or hacking – something that can occur when sharing passwords with people who are not authorized on an account.
Netflix has said that it will soon begin cracking down on password sharing. This may be done by emailing users when suspicious activity is detected or asking for verification through two-factor authentication codes before allowing a new device onto the account. The company has not stated whether there will be any specific repercussions for those caught breaking the new rule; however, there could potentially be fines issued for repeat offenders.
If you’ve been relying on another person’s account up until now, getting your own subscription may be necessary so that you don’t get left in the cold when this change goes into effect. Thankfully, Netflix still offers generous plans at very reasonable rates, so making the switch won’t break the bank!
More Project Casting Entertainment News:
“Dark Winds” to Hire Over 350 Actors and Crew Members in New Mexico
The New Mexico Film Office is thrilled to announce the commencement of filming for “Dark Winds” Amber Dodson, the Director of New Mexico’s Film Office, announce…
How to Audition for Netflix Netflix is a household name known for streaming some of the biggest movies, TV shows, and productions. Arguably, over 180 million pe…
Donald Glover to Star in Spider-Man As Hypno-Hustler (Report)
Donald Glover is reportedly set to star in a Spider-Man movie as the Hypno-Hustler. Sony Pictures is thrilled to announce that Donald Glover will produce and st…
