Streaming giant Netflix is reportedly planning to put an end to its password sharing feature in early 2023.
Previously, there were rumours about the end of password sharing, but the changes are set to officially go into effect next year, reports MacRumors.
Netflix has long been aware that password sharing is a problem that negatively affects its earnings, but the rise in subscriptions in 2020 led the company to avoid addressing the issue.
Because of the revenue downfall this year and the platform’s first subscriber loss in 10 years, Netflix CEO Reed Hastings decided it was time to take action on the issue.
Starting next year, the company plans to ask users who share accounts with others outside of their household to pay for the same, the report said.
In October, the streaming giant had announced the ‘Profile Transfer’ feature to prevent password sharing that had been rolled out to all members globally.
Netflix on Wednesday also announced that it will launch ‘Nike Training Club’ on December 30, 2022, with which users will be able to stream fitness content.
–IANS
aj/ksk/
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
