Netflix has disclosed that it will begin blocking subscribers from sharing their account passwords with people outside their households from March 2023.
The streaming service provider had earlier shared their plans ahead of March in a statement, noting that ‘widespread account sharing’ has exceeded over 100 million viewers.
Netflix said 2022 had been a ‘tough year’ due to its first subscriber loss in more than a decade – its customer base fell by 200,000 subscribers in the first quarter.
”Netflix is planning to ban all password sharing by March 2023. The company expects to make around $720 Million from the change.”
The company added: “Today’s widespread account sharing undermines our long-term ability to invest in and improve Netflix, as well as build our business.
“While our terms of use limit use of Netflix to a household, we recognize this is a change for members who share their account more broadly”.
Netflix allows you to share with four other people to enjoy live streaming and recent movies, but because of multiple interests, people share with close friends, co-workers, and family.
The streaming service now plans to roll out paid sharing as of March 2023.