Netflix is by far one of the most popular streaming services available. With its binge-worthy original releases, vast array of gripping movies, and addictive documentaries – the streaming mogul has well and truly dominated the market.
But there is one area where the company appears to be losing some serious money… password sharing. You know it, we’ve all done it. Given your friend access to your account so they can binge the new Breaking Bad movie, or the new Stranger Things season.
But now, it seems Netflix has had enough – announcing last week that it is clamping down on users sharing passwords with friends and family in a bid to cut its losses.
Just how big is Netflix? Well, they have over 60 million subscribers in the United States alone!
In a new interview last week discussing their Q3 2019 earnings, the service announced that it’s looking to crack down on password sharing. Users are already able to share accounts by setting up several viewing profiles on a single log-in, but password sharing takes this to a whole other level.
Netflix estimates that about 9% of their users practice ‘password sharing’.
Greg Peters, Netflix’s chief product officer, was asked during the interview how the company plans to address password sharing without “alienating a certain portion of [its] user base.”
“We continue to monitor it so we’re looking at the situation,” Peters explained. “We’ll see those consumer-friendly ways to push on the edges of that.”
While there is no ‘definite’ action that will be taken at this moment in time, if you are one who shares passwords with friends and family, you may want to gear up to grab your own Netflix subscription sooner than later!