End of an Era
Pour one out, binge-watchers. Netflix has signaled that it’s going to start charging people who share their passwords with others outside their households.
The streaming giant announced the move in a blog post on Wednesday. Once implemented, it’ll end 15 years of password sharing goodness between friends, family, and that roommate you had in college who loves “Arrested Development.”
“So for the last year we’ve been working on ways to enable members who share outside their household to do so easily and securely, while also paying a bit more,” the post said. It added that Netflix will begin testing the features in the near future in Chile, Costa Rica, and Peru.
Capitalism Wins
Customers who would like to continue sharing passwords can pay to add an extra member, which will give account access to two more people outside of the household.
Alternatively, Netflix will also offer “Profile Transfer,” which will allow subscribers to transfer their profile information, watch history, and personalized recommendations over to a new paid account.
The move is a bummer, but not all too surprising. The streaming world is a lot different now than it was 15 years ago when Netflix first came onto the scene. With tons more competition from the likes of Disney+ — not to mention a changing entertainment landscape now that COVID restrictions are being lifted — Netflix is likely starting to feel the pressure.
In fact, the company’s stock has dropped 51 percent from last November. It’s no surprise that it’s looking for more ways to shore up funds.
In any case, it was fun while it lasted. But at least now your Netflix recommendations won’t be screwed up by your friend’s mom’s love of Hallmark Christmas movies.
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