If you’re like me and you only use Netflix because someone else pays for it, it looks like that’s about to get a little bit harder to do.
The streaming service is about to crack down on password sharing and how many people can use one account, as they’ve seen a massive loss in subscribers over the last several months.
It’s the first time they’ve seen that number drop in over a decade:
They estimate that roughly 100 million people “freeload” watching on their platform by using someone else’s password in North America alone, as opposed to paying for their own separate account (me):
They’re also looking into cheaper, ad-supported subscriptions, which is something they’ve stayed away from as company policy for years.
Part of the reason for this is also because inflation on the rise and people are feeling it in their pocketbook, so Netflix is no longer a necessity for a lot of Americans when it comes to their monthly expenses.
In a recent letter to shareholders, Netflix executives said they see the end of password sharing as “a big opportunity” to reaccelerate revenue growth,
“Through improvements to our service and more effective monetization of multi-household sharing.”
Yeah… the same company that tweeted this back in 2017:
Tesla CEO Elon Musk believes that the drop in revenue and subscribers has more to do with the content that’s available to stream, as opposed to so many people using one single account:
The woke mind virus is making Netflix unwatchable
— Elon Musk (@elonmusk) April 20, 2022
Honestly, if they get really serious with this and I can no longer use my dad’s Netflix account, there is 0% chance I will open up my own account and start paying for it.
And with so many other people already choosing not to renew their existing accounts as it stands now, I have a feeling I won’t be the only one. Choose your next move wisely, Netflix.
Well, maybe I’ll consider it when Bridgerton Season 3 comes out…
