Sharing Netflix password will incur extra charge: Company said
OTT platform Netflix has prepared to charge extra charges from users who share passwords. The company said that the biggest reason for the slow growth of the platform has been password sharing. OTT platform is the future now. Keeping this in mind, the company will charge additional fees from users who share their login ID and password from the beginning of 2023.
What did Netflix say?
Netflix’s quarterly report was released on Tuesday. With the release of the report, Netflix said, ‘Finally, we have decided to charge extra to users who share the account. Extra fees will be charged from these users on a large scale from the beginning of 2023.
Account sharing is not increasing users
Netflix’s product innovation director Chenghai Long said that his members love Netflix’s movies and TV shows. So much so that they share them on more and more social media. However, due to account sharing among friends, more members do not subscribe to Netflix. This does not increase the users and the company suffers losses.
‘OTT is the future’
The Netflix executive said, “The future of the entertainment industry is OTT platforms. Other streaming platform owners are spending billions of dollars to grow their products. Right now they are not getting profit. But in the future, it is going to get a lot of profit.