Streaming giant Netflix once said that sharing a password was love. Six years later, they’ll put an end to exactly that.
The company said that starting at the end of March, it will crack down on those who share passwords with users outside their home. They have said since last October that they will charge additional fees for joint accounts. Just last week they wrote In a letter to shareholders that by the end of the first quarter, payment will be rolled out to subscribed users.
I’ll charge more
Netflix has had a pilot scheme in five countries in South America in recent months. This is what will now be rolled out to the rest of the world before the end of March.
The company writes that more than 100 million households sign up for the accounts. They believe this undermines their long-term ability to invest in and improve Netflix.
“When we launch paid sharing, members in many countries will have the option to pay extra if they want to share their Netflix account with people they don’t live with.”
You can still watch Netflix on your phone, iPad, or computer while traveling.
“From our experience in South America, we anticipate some cancellations in response when we begin paid participation, which will impact membership growth in the short term,” the company wrote in the letter.
Watchman He writes that if one uses the experiences in South America as a guide to how big the price increase is, it will correspond to, say, an extra four Australian dollars per account that shares users per month for Australia. The Times writes that there will be an increase of $2.99 per month.
Both cases correspond to around NOK 30 per month.
Moreover, they write that as account borrowers create their own users, and others start paying for sharing accounts, they expect an increase in income.
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Netflix is low cost
Netflix has launched a low-cost subscription in twelve countries. This offers a lower Netflix membership for watching ads.
The company says it believes it will generate income in the long term, but that it is still “in the early stages” when it comes to advertising on Netflix. They point out that they have a lot to do, especially more targeted ads.
Engagement is better than we expected, and it’s on the same level as ad-free subscriptions, the company writes.
They add that consumer and advertiser reaction to the launch has confirmed their belief that ad-supported subscriptions will drive more revenue, although they believe it will grow slowly over time.
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The boss left
Reed Hastings, CEO, Netflix He resigned as CEO last week. Instead he will become the chairman of the working board of directors of the company. Then, on Thursday, Netflix announced that it was going from one to two CEOs.
The new top manager is Greg Peters, moving from COO to becoming Managing Director with Ted Sandos. According to Netflix, the two have worked closely together for 15 years. Sandos thanks Hastings for what he refers to as visionary leadership over the past 20 years. Hastings co-founded Netflix in 1997.
The company was founded by Reed Hastings and Mark Randolph in 1997. The giant offers an online library of movies, series and documentaries.
Paying subscribers can stream the show online and watch it on PC, tablet, mobile phone and smart TV. Netflix offers both foreign and special productions.
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