Netflix to launch a Paid password-sharing feature soon

Streaming giant Netflix reported an all-time record high of 232.5 million subscribers in the first quarter of 2023. With this, the streaming platform has finally relieved itself from the low subscriber growth rate that was in notion after the pandemic.

Now, with a higher subscriber base, Netflix is speculated to soon be rolling out a paid password-sharing system as it begins the crackdown on sharing of account passwords.

The company has delayed its much-anticipated crackdown on sharing of account passwords “to improve the experience for members.” The options for paid password sharing will likely be released in the current quarter that is before June 2023.

With a higher subscriber number, the streaming television giant reported a quarterly profit of $1.3 billion.

What is Netflix paid password sharing system?

As its name suggests the paid password-sharing system of Netflix will enable users to share access and password with others for an extra subscription charge.

If reports are to be believed then the password-sharing system will be released by Netflix before June 2023. A paid password-sharing system would entail members paying extra subscription charges for consumption of Netflix content beyond a designated number of accounts.

Netflix said that this will provide a better result for both the subscribers and their business.

Meanwhile, Netflix has rolled out its ad-supported plan — “Basic with Ads” for Apple TV users in India after a delay of months. The platform released the “Basic With Ads” steaming plan on November 3 last year to subscribers in the US, the UK, France, Germany, Italy, Australia, Japan, Korea, Brazil, Canada and Mexico for $6.99.

According to prediction sof Market tracker Insider Intelligence, Netflix will bring in $770 million in ad revenue from the new tier this year, and that revenue figure will top $1 billion next year.

Netflix has also announced a significant growth in engagement in India by nearly 30 per cent (year on year) in the first quarter of 2023 after it reduced the price of the subscription in the country.

As the growth in number of subscribers slowed for Netflix last year, the company began focusing on creating a lower priced subscription tier with advertising.

Also Read: Netflix Rolls Out Ad-Supported Plan For Apple TV Users

(Source: Wion)