Netflix began charging accounts for password sharing in early 2023.
“We’ve landed on a considerate strategy to monetizing account sharing and we’ll begin rolling this out extra broadly starting in early 2023,” Netflix said.
While Netflix has not disclosed the cost of these new fees, reports indicate that this plan, which is already being test in a couple of Latin American countries, levies a fee for every additional member equal to about one-quarter the cost of a “standard” Netflix plan.
The development comes months after Netflix skilled its largest-ever subscriber loss earlier this year. Netflix had previously been relatively lax about password sharing and commenced experimenting with ways to make shared accounts pay.
Along with the password-sharing fees, Netflix plans to launch less expensive subscription plans backed by advertising the next month.
Nearly all of Hollywood’s big news corporations spent billions of dollars in their own streaming businesses as an effect of Netflix’s domination in the video that is streaming and years of unabated membership growth.
These streaming wars gave rise to a flurry of the latest solutions, including Apple TV Plus, Disney Plus, HBO Max, Peacock, and Paramount Plus.
