As of early 2023, account sharing on the Netflix streaming app will no longer be available in the US The Wall Street Journal reports it. As the American newspaper notes, this will be a challenge for both viewers and the streaming giant.
The company deferred this decision. As reported in the Wall Street Journal, analysts at Netflix identified a problem with password sharing in 2019. The company has since thought about fixing the problem, but the coronavirus pandemic broke out, causing an wave of new users and stopped the previous analysis.
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Netflix estimates that its streaming platform is currently used by over 100 million people using the password of a family or friend account. The company wants to put an end to that starting next year. First, there will be changes to the subscription policy in the US.
In the third quarter of 2022, Netflix gained 2.41 million net new subscribers. Until recently, the company stressed slowdown in the growth rate, predicting it will gain 1.09 million new subscribers in the third quarter. Service earnings per share were $3.10, while the market estimated it at $2.13. Group revenues were $7.93 billion and the consensus assumed they would be $7.84 billion.
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