Remember when you could share your Netflix password with family members and friends without repercussions?
You know, Monday of this week?
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Yeah, those days are over, as the streamer began telling people that you can pass it amongst the people in your household, but that is it.
Here’s part of the message the company posted to their blog on Tuesday – “Your Netflix account is for you and the people you live with – your household.”
It will now cost an additional $7.99 per person for anyone outside your household using your account. Which isn’t much if you watch a lot of content on Netflix.
This is all about one thing – generating revenue. After a few disastrous quarters, which saw their stock price tank, Netflix execs went code red, figuring out any way they could scrape together a few bucks to stem the bleeding.
Netflix said over 100 million households share accounts. That’s huge – over 40% of their global user base, so yeah, they had to do something.
The company is straightening a few things out with its finances and found a way to add 1.75 million customers in the first quarter.
Putting the kibosh on password sharing isn’t the only radical change Netflix is rolling out; they have also introduced a less expansive tier of service that comes with ads.
The trigger point for Netflix came in early 2022 when they reported their first subscriber loss in over a decade.The party was over for Netflix at that point, and they knew radical changes had to be made.
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