The days of freely giving away Netflix credentials to friends and family are quickly coming to an end. The business has disclosed that it intends to start penalising freeloaders in Q1. The company will soon implement paid-sharing model throughout the world.
On Thursday, Netflix released its Q4 earnings report, in which it stated that subscription growth is much above forecasts. Despite having a high number of subscribers, the corporation used the financial report to reiterate its caution about preventing password sharing.
In a official statement, the company said: “Later in Q1, we expect to start rolling out paid sharing more broadly. Today’s widespread account sharing (100M+ households) undermines our long term ability to invest in and improve Netflix, as well as build our business,” Netflix said. “As we roll out paid sharing, members in many countries will also have the option to pay extra if they want to share Netflix with people they don’t live with.”
Also Read: Apple To Use In-house microLED Screens On New Apple Watch Ultra.
Netflix has already started testing its paid-sharing model in some regions across the world
In case you weren’t aware, Netflix has already begun testing its paid-sharing model in places including Argentina, Honduras, El Salvador, Guatemala, and the Dominican Republic. The paid sharing model will, however, be forced on consumers in Q1 2023. After that. users will either have to register their own accounts or pay a little extra to share.
Users would have to establish a main residence during the paid sharing model’s testing phase. Users in Argentina had to pay $1.70 while those in other nations had to pay $2.99 for a secondary residence. Your subscription package would determine how many more residences you may add; Basic gets one, Standard gets two, and Premium gets three.
Netflix has not revealed the pricing for the new model yet. However, if the global rollout of the model is anything like the test, consumers can presumably anticipate paying anywhere between $1.70 and $2.99 on top of their current plan.
Also Read: Samsung 200MP ISOCELL HP2 Image Sensor Might Debut in Galaxy S23 Ultra.