Netflix recently launched an ad-supported subscription option in some regions in an effort to increase revenue and user numbers. The password-sharing business has also been kicked off by streaming platforms in various markets. Last year, Reed Hastings, the previous CEO of Netflix, announced that password sharing would be gradually phased out for everyone.
According to the report, Peters predicted that most Netflix users who do not pay a subscription fee but still use the service will soon have to start paying to watch content. Peters indicated that even after implementing regulated password sharing, the streaming platform will not compromise on user experience.
He acknowledged that many customers would be dissatisfied if password sharing was banned globally, but the CEO stressed on expanding the customer base to 15-20 million, emphasizing on countries like India. Peters continued by saying that he’d like to see all customers who no longer pay for Netflix eventually pay for the media they access.
For the benefit of the unaware, Netflix is testing the elimination of password sharing in several Latin American countries, including Costa Rica, Chile, Peru, and more. To use your friend’s Netflix account, customers in these countries will need to pay $3 (roughly Rs. 250).
The streaming service hasn’t revealed how much it will charge per user in India, but it can be speculated that the pricing will be similar to the prices charged elsewhere in the world. The option would eventually run out for the Indians as well. As per the most recent rumours, starting in March 2023, Netflix will implement the end of password sharing in other regions including India.