Sharing the Netflix password will incur additional costs: the company said, “OTT platform is the future, sharing the password will harm us”; Additional charges will be levied from 2023
The OTT platform Netflix has prepared to charge additional fees for users who share passwords. The company said the main reason for the platform’s slow growth was password sharing. The OTT platform is the future now. Keeping this in mind, the company will charge additional fees for users who share their login ID and password from early 2023.
Netflix’s quarterly report was released on Tuesday. With the release of the report, Netflix said, “Finally, we’ve decided to charge users who share the account extra.” Additional fees will be charged to these large-scale users starting in early 2023.
Netflix Product Innovation Director Chenghai Long said its members love Netflix movies and TV shows. So much so that they share them on more and more social networks. However, due to account sharing among friends, more and more members do not subscribe to Netflix. It does not increase the number of users and the company suffers losses.
The Netflix executive said, “The future of the entertainment industry lies with OTT platforms. Other streaming platform owners spend billions of dollars developing their products. Right now they are not making any profit. But in the future, it will get a lot of profit.
Netflix has yet to reveal the price of the new package. It is said in the reports that the monthly price of the new plan can be between 3 and 4 dollars (about 249 to 332 rupees). Users who don’t want to pay additional fees can use the Netflix Migration Tool. With the help of this tool, users will be able to easily transfer their profiles.