Last Update: May 24, 2023, 00:46 AM IST
FILE PHOTO: A smartphone with the Netflix logo is positioned in front of the words streaming service displayed in this illustration taken on March 24, 2020. (Reuters)
Netflix announced last year that it was going to limit password sharing and has already tested different methods in some markets
Netflix on Tuesday expanded its crackdown on users sharing passwords with people beyond their immediate family as it seeks to increase revenue at the leading streaming television service.
“The Netflix account is for one home use,” the company said in a statement.
Netflix said earlier this year that more than 100 million households were sharing accounts on the service, “impacting our ability to invest in great new TV and movies.”
Netflix has experimented with “borrower” or “shared” accounts, in which customers can add additional users or move viewing profiles to separate accounts for a higher price in some markets. On Tuesday, it announced it was expanding the policy to more than 100 countries.
As growth cooled at Netflix last year, the Silicon Valley-based streaming company prepared to start paying for the service without alienating customers who watch for free with shared passwords.
“This account sharing initiative allows us to keep a large base of potential paying members and help Netflix grow over the long term,” co-chief executive officer Ted Sarandos said on the earnings call.
The streaming television giant recently told financial analysts that it had delayed a broader ban on account password sharing “to improve the experience for members.”
Netflix said this ensures that customers have seamless access to the service when away from home or on different devices such as tablets, TVs or smartphones.
Netflix said in April that its subscriber base hit a record high of 232.5 million in the first quarter of the year and that its nascent ad-supported tier was doing well.
The company said in a recent presentation to advertisers that it had more than 5 million customers at its ad-support level.
Insider Intelligence predicts that for the first time ever, US adults will spend more time watching digital videos on platforms such as Netflix, TikTok and YouTube than watching traditional television this year.
Market trackers expect “linear TV” to account for less than half of daily viewing for the first time.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – AFP,
