New Delhi: Streaming giant Netflix is reportedly planning to end its password-sharing feature in early 2023. Previously, there were rumors about the end of password sharing, but the change is expected to officially go into effect next year, MacRumors reports. Netflix has long recognized that password sharing is an issue that hurts revenue, but with subscription growth in 2020, the company avoided addressing the issue.
With revenues falling this year and the platform losing subscribers for the first time in a decade, Netflix CEO Reed Hastings decided it was time to take action on the issue.
Starting next year, the company will require users who share accounts with people outside their family to pay the same fees, the report said.
In October, the streaming giant announced a “profile transfer” feature to prevent password sharing that was rolled out to all members worldwide.
Netflix on Wednesday also announced the launch of “Nike Training Club,” which will allow users to stream fitness content, on December 30, 2022.