Introduction
Netflix is a service that offers a wide variety of TV shows, movies, anime, documentaries and more – on thousands of internet-connected devices. You can watch as much as you want, whenever you want, without a single ad. All for one low monthly price. And without any Netflix additional charge. There’s always something new to discover in Netflix, and new TV shows and movies are added every week. For all devices there is one fixed monthly fee. Netflix’s pricing is an upgrade for Premium subscribers, the folks that pay $20 per month. Netflix testing with a $2.99 per user charge to add people outside of your household. And there is no extra costs, no Netflix charge additional, no contracts. but to combat Netflix password sharing it will limited in U.S..
Streaming service attracting subscribers in droves
The long-anticipated move seeks to end a practice that the company allowed to go unchecked for years while its streaming service was attracting subscribers in droves. Actually, Netflix logo is displayed on the company’s website on Feb. 2, 2023, in New York. Netflix on May 23, 2023, outlined how it intends to crack down on the rampant sharing of account passwords in the U.S.. Its latest bid to reel in more subscribers to its video streaming service amid a slowdown in growth.
Crack down on rampant sharing of account passwords in U.S.
Netflix on May 23 outlined that how it intends to crack down on the rampant sharing of account passwords in the U.S.. Its latest bid to reel in more subscribers to its video streaming service as its growth slows.
Netflix assured without providing details on how it authenticates subscriber identities or accounts. Netflix also assured that everyone living in the same household as a U.S. customer will still be able to stream TV series and movies. “Wherever they are at home, on the go, on holiday.” The company based in Los Gatos, California has roughly 70 million U.S. accountholders.
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Company said on combat Netflix password sharing
To combat password sharing, Netflix said it will limit U.S. viewership of its programming to people living in the same household. Those who subscribe to Netflix’s standard or premium plans, which cost $15.50 to $20 per month. Will be able to allow another person living outside their household to use their password for an additional Netflix charge $8 per month. A $2 discount from the company’s basic plan.
The long-anticipated move, telegraphed by Netflix a year ago
It is the long-anticipated move, that is telegraphed by Netflix a year ago. This seeks to end a practice that the company allowed to go unchecked for years. While its streaming service was attracting subscribers in droves. At that time, management had little incentive to risk riling customers by reining in password sharing.
Before the crackdown on Netflix password sharing
Before the crackdown on password sharing, Netflix began introducing features. Such as the ability to transfer the profiles set up on subscriber accounts to make it easier for people to retain their viewing histories after they are no longer able to watch shows for free.
Netflix’s effort to force more of its viewers to pay for access to its programming follows the launch of a $7 monthly plan that inserted commercials into its service for the first time. Netflix has picked up an additional 9 million worldwide subscribers since the ad-supported option debuted. Although not all of those signed up for the low-priced plan.
Netflix plan
Netflix plan |
Current price |
Former price |
|---|---|---|
Basic with ads |
$6.99 per month |
n/a |
Basic |
$9.99 per month |
$8.99 per month |
Standard |
$15.49 per month |
$13.99 per month |
Premium |
$19.99 per month |
$17.99 per month |
Company suffered a slowdown in growth
The new U.S. surcharge for viewers living outside subscribers’ households is less than Netflix’s basic streaming plan. It comes at a time that Americans have been paring their discretionary spending because of high inflation. That inflationary squeeze, combined with more competition from other streaming services, is one of the main reasons Netflix has suffered a slowdown in growth. Netflix’s shares fell 2% on May 23 to close at $355.99. The stock remain up by about 20% so far this year.
Crackdown password sharing trigger uptick in subscriber cancellations
The Netflix co-CEO Greg Peters acknowledged last month that “The crackdown on password sharing is likely to trigger an uptick in subscriber cancellations. But expressed confidence the company will be better off in the long run after people adjust to the clampdown.”
Peters analysts said “We see an initial cancel reaction. And then we build out of that both in terms of membership and revenue as borrowers sign-up for their own Netflix accounts,” . Citing how the crackdown has unfolded in Canada since February.