Netflix has recently lost more than 2 lakh subscribers, marking its biggest loss in a decade.
Have you been watching Netflix by sharing passwords with your family, friends and even friends of friends? Well, we have some sad news for you. The streaming platform is now planning to restrict the password sharing.
Netflix has earlier requested users not to share their account password with anyone, but ‘jugaadu’ Indians never fail to save money in unique ways. From family to complete strangers, Netflix passwords seem to have taken a longer ride than any one of us.
Post witnessing a record droop in Netflix’s share prices, CEO Reed Hastings has affirmed that the company will be stopping the practise of password sharing soon. Recently, the company has lost more than 2 lakh subscribers, marking the biggest loss in a decade.
Also, READ: Apple’s nudity-blurring messages feature goes global - Know how it works
According to the streaming platform, subscribers are dropping because people have started sharing password aggressively. The company has addressed these details to shareholders in a letter this week. It reads, “Sharing likely helped fuel our growth by getting more people using and enjoying Netflix. And we've always tried to make sharing within a member’s household easy, with features like profiles and multiple streams. While these have been very popular, they’ve created confusion about when and how Netflix can be shared with other households.”
Interestingly, the company has been planning to restrict password sharing since a long time. In March 2022, it announced that users in Chile, Costa Rica, and Peru will have to pay extra money for sharing accounts with other households.
Speaking of future plans, the company has hinted at bringing ads to the platform after rejecting the ad sharing pattern since years. As mentioned by Hastings in a recent earnings call, the company is “quite open to offering even lower prices with advertising, as a consumer choice”.
Considering the dropping subscriber numbers, Hastings now believes that an ad-supported tier “makes a lot of sense” for “consumers who would like to have a lower price and are advertising tolerant”.
Let us tell you that the company is considering launching cheaper plans in near future as this will attract more people to the streaming platform. With respect to its competitors in India, Netflix is a comparatively costlier platform. At this moment, the company offers four subscription plans in India. The mobile plan is priced at Rs 149 per month and gives one screen support, which is the same as the basic Rs 199 plan.
The standard plan is priced at Rs 499 for two screens. The premium plan is available for Rs 649 come with support for four screens.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Netflix ‘jugaad’ set to end, CEO Reed Hastings announces plans to restrict password sharing")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}