Netflix has announced account-sharing limits in the U.S. Only individuals residing in the same household can share accounts.
According to the streaming company, only individuals residing in the same household will be allowed to share accounts. Therefore, if you wish to share your account with someone outside your household, you have two choices: transfer their profile to a new membership or share your Netflix account for an extra monthly fee of $8.
To generate additional revenue, Netflix is now targeting those who have been using shared accounts without contributing financially. Ted Sarandos, the co-CEO of Netflix, explained that this strategy aims to involve more viewers in supporting the creation of future content. According to Cowen senior research analyst John Blackledge, this initiative could potentially attract 2.1 million new subscribers in the United States alone.In February 2023, it accounted for 7.
Wells Fargo Securities suggests that paid password sharing could potentially yield higher earnings for Netflix compared to people signing up for its ad-supported subscription.According to a 2022 survey conducted by Parks Associates, 40% of consumers in U.S. internet households either share their streaming service credentials or use shared credentials, which is an increase from 27% in 2019.
The company itself states that approximately 100 million people watch its content using someone else’s account. Citi analyst Jason Bazinet estimated that streaming services collectively lose around $25 billion annually due to password-sharing, with Netflix accounting for approximately 25% of that lost revenue.
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