![Netflix plans to put an end to password-sharing feature, here’s everything you need to know](https://img.etimg.com/thumb/msid-96429723,width-300,height-225,imgsize-52606,resizemode-75/netflix-plans-to-put-an-end-to-password-sharing-feature-heres-everything-you-need-to-know.jpg)
Netflix is reportedly planning to stop its password-sharing feature for its users from early next year.
This has been in the streaming giant’s pipeline for long but if several reports are to be believed Netflix plans to implement steps to stop password-sharing among its users from early 2023.
Netflix has been suffering a loss in its profits due to this feature but the surge in subscribers during the pandemic caused the company to avoid addressing it in 2020. But, because of the downfall in revenue this year, Reed Hastings, CEO Netflix, has decided to put an end to the password-sharing feature.
Starting early next year, Netflix plans to introduce an extra fee for people who share their account outside their household. The trials for this have already been underway in a few Latin American countries, where Netflix has been charging a fee of USD 3 extra for the same.
Netflix plans to charge a fee of just below USD 6.99 in the United States for an ad-supported plan from people who share their account outside their household.
Netflix plans on enforcing password sharing rules by tracking IP addresses and account activities. While, it does not plan to put an end to the password-sharing feature at once as the company fears that it would alienate its customers, it plans on putting an end to it gradually.
Meanwhile, the Intellectual Property Office (IPO) of Netflix in the United Kingdom has reportedly issued a statement saying that the practice of password-sharing could invite criminal charges and may amount to ‘secondaryz copyright infringement.’
IPO in a recent guidance published has said, “Pasting internet images into your social media without permission, or accessing films, tv series or live sports events through Kodi boxes, hacked Fire Sticks or apps without paying a subscription is an infringement of copyright and you may be committing a crime.”
1.When was Netflix founded?
Netflix was founded on August 29, 1997.
2.Who is the CEO of Netflix?
Reed Hastings and Ted Sarandos are the current CEO of Netflix.
This has been in the streaming giant’s pipeline for long but if several reports are to be believed Netflix plans to implement steps to stop password-sharing among its users from early 2023.
Netflix has been suffering a loss in its profits due to this feature but the surge in subscribers during the pandemic caused the company to avoid addressing it in 2020. But, because of the downfall in revenue this year, Reed Hastings, CEO Netflix, has decided to put an end to the password-sharing feature.
Starting early next year, Netflix plans to introduce an extra fee for people who share their account outside their household. The trials for this have already been underway in a few Latin American countries, where Netflix has been charging a fee of USD 3 extra for the same.
Netflix plans to charge a fee of just below USD 6.99 in the United States for an ad-supported plan from people who share their account outside their household.
Netflix plans on enforcing password sharing rules by tracking IP addresses and account activities. While, it does not plan to put an end to the password-sharing feature at once as the company fears that it would alienate its customers, it plans on putting an end to it gradually.
Meanwhile, the Intellectual Property Office (IPO) of Netflix in the United Kingdom has reportedly issued a statement saying that the practice of password-sharing could invite criminal charges and may amount to ‘secondaryz copyright infringement.’
IPO in a recent guidance published has said, “Pasting internet images into your social media without permission, or accessing films, tv series or live sports events through Kodi boxes, hacked Fire Sticks or apps without paying a subscription is an infringement of copyright and you may be committing a crime.”
FAQs:
1.When was Netflix founded?
Netflix was founded on August 29, 1997.
2.Who is the CEO of Netflix?
Reed Hastings and Ted Sarandos are the current CEO of Netflix.
Disclaimer Statement: This content is authored by an external agency. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.
(Catch all the Business News, Breaking News, Budget 2024 Events and Latest News Updates on The Economic Times.)
Subscribe to The Economic Times Prime and read the ET ePaper online.
Read More News on
(Catch all the Business News, Breaking News, Budget 2024 Events and Latest News Updates on The Economic Times.)
Subscribe to The Economic Times Prime and read the ET ePaper online.