This is not good news if you’re using someone else’s Netflix account; Netflix aims to monetize Netflix Password sharing as soon as possible.
Netflix for the first time put a number on the total number of households binge-watching Bridgerton using someone else’s credentials in a letter to shareholders as part of Q1 revenue results. The company revealed that about 100 million-plus households are currently using someone else’s credentials; they are not paying Netflix for the service.
Moreover, the corporation now has over 221 million paying users worldwide; which is almost unchanged from the previous quarter. According to Netflix, there are nearly 33% more individuals who could be paying to watch the next Squid Game.
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Netflix is working on a pilot scheme to monetize Netflix Password Sharing
It’s no secret that the popular streaming service is concerned about account sharing. It announced a pilot scheme earlier this year that would levy a $2.99 fee to customers that want to share their credentials with others outside their household. For the time being, the test is only being conducted in Chile, Costa Rica, and Peru.
However, based on the letter’s wording, it appears that Netflix will move quickly to expand the program. “While we won’t be able to monetize all of it right now,” Netflix writes in the letter, “we feel it’s a big short- to mid-term opportunity.”
Netflix’s growth problems are caused by a variety of factors; including how many people buy connected or smart TVs, consumers switching from cable and broadcast to on-demand services, and rising data costs, all of which Netflix claims it has no control over. Netflix, which does not control the cost of broadband bandwidth; but does manage its own service pricing, has been increasing tariffs in recent years, with a significant increase in January.
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