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New Netflix CEOs end password sharing; Indians who share passwords must pay
Last year, former Netflix CEO Reed Hastings revealed that password sharing would be phased out for everyone. Now, new co-CEOs Greg Peters and Ted Sarandos have revealed more details.
To increase revenue and gain more subscribers, Netflix recently introduced an ad-supported subscription plan in select markets. Furthermore, the streaming platform has also done away with the password-sharing business in some markets. Last year, former Netflix CEO Reed Hastings revealed that password sharing would be phased out for everyone. New co-CEOs Greg Peters and Ted Sarandos have told Bloomberg in an interview that they will soon stop sharing Netflix passwords for all users. This suggests that Indian audiences relying on friends and others to use Netflix will soon have to pay to use the platform.
According to the report, Peters said that most users who do not pay for Netflix but use the platform would soon have to start paying to watch content. However, Peters revealed that the streaming platform would only sacrifice the consumer experience after implementing controlled password sharing. He also conceded that after global password sharing is limited, there will be many unhappy customers, but CEOs emphasize growing the subscriber base to 15-20 million, focusing on countries like India. Peters added that he would like all users who currently do not pay to use Netflix to eventually pay for the content they watch.
For those who don't know, Netflix has been testing the end of password sharing in some Latin American countries, including Costa Rica, Chile, Peru, and a few more. In these countries, Netflix charges $3 (approximately Rs 250) for people who prefer using their friends' Netflix accounts. The streaming platform hasn't disclosed how much it will charge per user in India, but the amount may be almost on par with the global price. Eventually, the option will also end for the Indians. According to the latest reports, Netflix will implement the end of password sharing in other markets, including India, starting in March 2023.
The question remains: how will Netflix identify freeloaders? The streaming platform previously explained that Netflix would enforce the new password-sharing rule through IP addresses, device IDs, and account activity. This way, the streaming platform will identify users outside of a particular household who want to watch Netflix content at no cost.
Netflix is trying new ways to grow its subscriber base. Cracking down on password sharing is one such initiative. Another way is to introduce an ad-supported plan. Recently, Netflix launched a new affordable ad-supported plan at $6.99 in the United States, hoping to appeal to users who don't want to pay a lot for a Netflix subscription. In India, Netflix offers four plans priced at Rs 149, Rs 199, Rs 499 and Rs 649.
