In a report released by the streaming giants, they unveiled that it is well aware of us sharing our passwords with our families, our friend, our friend's friend, and their dog. And it's not having it.
Netflix estimates that there are roughly 100 million households watching its content worldwide by mooching off of someone else's account.
With a 200,000 member loss in their first quarter, Netflix is not having it anymore. Especially with a projected loss of 2 million members in the second quarter.
Initially, sharing an account was a positive to get Netflix into the homes of non-members. But now, it's losing out. Netflix claims their statistics were thrown off with Covid and, you know, people being inside all the time, but that this was inevitable.
Additionally, the access we have as viewers to online streaming platforms is wider than ever, with households moving towards other membership options for their streaming. So the market is competitive right now.
Netflix have even begun the process of clamping down on account sharing, having initiated a trial role-out of additional account fees for those sharing in Chile, Costa Rica, and Peru.
It offers plans with a two to three dollar increment in the price to add up to two extra household accounts to an existing account. Variety reports that analysts have estimated growth of 1.6 billion dollars in annual global revenue if Netflix chooses to roll-out the changes worldwide. Woof.
In addition to the extra household fee, Netflix plan to introduce lower pricing in combination with advertisements during streaming.
Well, folks, it was great while it lasted. Hopefully there's a wee while longer left before they sting Ireland. And sure look, could be worse.
Soak up a little more TV for now and find something that tickles your fancy on Netflix.
