On January 20, OTT giant, Netflix, plans to implement password-sharing rules ‘more broadly’ by the end of the first quarter of 2023, said The Verge. The company announced this in its returns.
The company even reported that Netflix Inc co-founder Reed Hastings is stepping down as chief executive, handing the reins of the streaming benefit to his longtime partner and co-CEO, Ted Sarandos, and the firm’s chief operating officer, Greg Peters. Mr. Hastings will serve as executive chairman.
Earlier, Mr. Hastings had reported that the password-sharing option would end for everyone in a phased manner. According to information, Netflix is already testing the end of password sharing in some Latin American countries, including Costa Rica, Chile, Peru, and more. In these nations, the streaming giant charges $3 (Rs 250 approx) to people who wish to use their friend’s Netflix account.
The company said it desires some “cancel reaction” in different markets but that the long-term benefits of people paying for extra accounts will result in “improved overall revenue,” the Verge reported.
The news indicates that new password-sharing rules could come into force sometime in April. The streaming giant has yet to reveal how much it will charge users in India.
The firm plans to enforce the new password-sharing rule through IP addresses, device IDs, and account activity. This way, the OTT giant will be capable of tracking the users.
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