Η share a Netflix account it will become much more difficult for users using other people's accounts early next year
The Netflix plans to introduce "a thoughtful approach to monetizing account sharing" in early 2023, according to letter of shareholders it released along with its third quarter earnings.
This approach will allow its existing subscribers Netflix to pay more money to add "extra members", who will then be able to stream from the same account. The company has already tested the system in three of its countries Latin America earlier this year, where Netflix charged customers extra $2.99 to allow someone outside their household to access their account.
The company's letter to shareholders did not say how it would combat account sharing. However, Netflix will likely look at the IP addresses that users are accessing the service from and block those that do not match the primary account holder's IP address.
On Monday, Netflix revealed how it will try to convert freeloaders into paying members by introducing a new feature “Profile Transfer”, which will be released worldwide. To attract consumers, the company is also preparing a new Netflix subscription based on advertisements which will cost $6.99 per month, with “Basic with Ads” Netflix launching in select countries on November 3.
The company is cracking down on password sharing amid stagnant growth. In April, the company estimated that 100 million households worldwide, including 30 million in the US and Canada, streaming on Netflix through shared accounts.
The company hopes to capture some of that revenue. During the third quarter, Netflix said it added 2.41 million new subscribers for a total of 223 million paying members. However, in North America, the company only added 100.000 new subscribers.
However, Netflix predicts that its growth will accelerate again in the coming months and predicts that it will add 4.5 million new subscribers in the fourth quarter, despite the ongoing economic downturn.
Netflix's letter to shareholders also defended its “bingeable model” company, which involves releasing all episodes for a TV series at once, instead of on a weekly basis.
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