![]() ![]() With all the big players fighting tooth-and-nail over new subscribers, streamers like Netflix aren’t giving password sharers a free pass anymore, and there are early signs that Netflix’s password-sharing crackdown is actually working in terms of adding paying users. Today, it’s up against the likes of Disney+, HBO Max, Paramount+, Peacock, and Apple TV+. Back in 2016, Hastings could afford to be cavalier about password sharing because the streamer faced little in the way of serious competition. The streaming landscape has also changed dramatically in the past few years. While Netflix hasn’t quantified how much revenue it may have lost from password sharers, a Los Angeles Times report estimates the practice may have cost streamer and pay-TV operators up to $9.1 billion in 2019, a figure that could balloon to $12.5 billion by 2024. ![]() Password sharing was partly to blame, the company said. By early 2022, that growth had stalled, with Netflix reporting that its subscriber base had shrunk for the first time in a decade. Of course, Hastings’ 2016 comments came in the context of explosive subscriber growth for Netflix. To be clear, Hastings wasn’t actually encouraging password sharing, but he didn’t seem interested in a crackdown, either, noting that account sharing “really hasn’t been a problem.” As recently as 2016, Netflix CEO Reed Hastings called the practice a “positive thing” because so many password sharers eventually got their own accounts. Daniil Medvedev: 2023 U.S.Netflix didn’t always have a problem with subscribers sharing their passwords. The best stand-up comedy on Netflix right nowĭisney+ to begin crackdown on password sharing This Taylor Swift documentary is on Netflix. His House is the scariest movie on Netflix right now. Netflix ended the first quarter of 2023 with 232.5 million subscribers globally. While there certainly are instances where that maybe could be considered legitimate - such as an adult child who’s away at college and doesn’t have the income for a full Netflix account - there were some 100 million accounts being shared worldwide, and that simply had become too big a number for Netflix to ignore any longer, especially as streaming services no longer can sit back and watch their revenue streams continue to climb every quarter. The account sharing crackdown comes months after Netflix first said it was stop its long-standing policy of nodding and winking at (if not outright condoning) sharing your account - also known as “password sharing” - with someone who’s not actually in the home of the person who owns the account. “It’s why we continue to invest heavily in a wide variety of new films and TV shows - so whatever your taste, mood or language and whoever you’re watching with, there’s always something satisfying to watch on Netflix.” “We recognize that our members have many entertainment choices,” Netflix wrote in the news post announcing the long-expected change. Netflix gears up to increase prices again, report claims Does it still hold up?ģ Edgar Allan Poe horror movies to watch after Netflix’s Fall of the House of Usher
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