Netflix password sharing is about to finish

Netflix is taking a victory lap and defending its enterprise methods after an earnings report confirmed robust third-quarter earnings.

A type of methods supposed to proceed its success is implementing its promised crackdown on account sharing.

“We’ve landed on a considerate strategy to monetize account sharing and we’ll start rolling this out extra broadly beginning in early 2023,” Netflix stated in its quarterly earnings report.

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Netflix stated it is going to “supply the power for sharers to handle their gadgets extra simply and to create sub-accounts, in the event that they wish to pay for household or pals.”

The plan is designed to curb earlier dips in subscribers, reportedly costing Netflix greater than $6 billion per yr in misplaced income.

The streaming service additionally introduced it averted a 3rd straight quarter of subscriber losses with the gaining of greater than 2 million subscribers.

"Thank God we're completed with shrinking quarters!” Co-CEO Reed Hastings stated throughout the earnings name. “So, that’s a giant feeling of — we’re again to the positivity.”

Netflix beforehand reported its shares had dropped almost 70% in 2022 following a lack of 200,000 subscribers, its first subscriber decline since October 2011.