Have you noticed the Netflix stock price lately? If you have, you’ve seen it’s been crushed since they hit their pandemic highs, and it should not be shocking that they are searching under the pillow cushions of their couches to find loose change. They came up with an idea that would affect a lot of people. The streaming giant unveiled plans to charge primary account holders more each month if they share their passwords with users outside their households.
Here’s what Chengyi Long, director of product innovation, posted in a blog.
“For the last year, we’ve been working on ways to enable members who share outside their household to do so easily and securely while also paying a bit more.”
Here’s the big question; what exactly is “a bit more?” They are testing the program in South America, and in Chile, users are paying about $3.00 more per month for sharing the login and password.
In the past, Netflix basically ignored families sharing the account password, but they have changed their stance because, according to them, it has affected their ability to invest in new content.
The news wasn’t a big hit on social media. Here’s one reaction reported by the NY Post.
“Netflix will lose a lot of customers if they do this password-sharing crackdown they plan to do. Charging extra and crap. Especially when they don’t carry a lot of good content anymore like some of the other streaming apps.”
An independent research group said password sharing is costly for streamers, costing them $9.1 billion in 2019, and with the landscape becoming more competitive for Netflix every day, they felt they had to act.
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