Netflix set to charge users for sharing passwords

Netflix has been trying for years to try and come up with a way to stop users from sharing their passwords with their friends, family, and acquaintances. The company will soon start charging a fee for customers who share their passwords. The streaming giant has already begun carrying out tests in countries like Costa Rica, Chile, and Peru.

Subscribers in these countries can add up to two extra members to their accounts for an additional $2.99 ( £2.41), 2,380 Chilean pesos ( £2.21), and 7.9 Peruvian sol (£1.67). Netflix will officially start charging for password sharing in early 2023, the company said in a statement in October.

Furthermore, the streamer will introduce a slew of changes and give its customers several options, including the option to pay to keep using their profile from someone else's membership.

It will allow users to transfer their profile to create a separate, new paid account if they want to stop using their family's membership. It said that it will take a "thoughtful approach to monetise account-sharing." However, the company has not revealed how much it is going to charge for these services.

Netflix saw a loss of 200,000 subscribers globally at the beginning of the year. It has since been trying to make up for the losses and increase its subscriber base.

It says that out of the 222 million households worldwide that pay for a Netflix account, the passwords are getting shared with more than "100 million additional households."

It also launched a cheaper streaming option last month, which includes up to four or five minutes of advertisements per hour. It costs £4.99 per month and has been available since November 3.

Things are now looking up for the streaming giant. It has added 2.4 million new subscribers in the past three months. According to a report in The Independent, it is expected to gain 4.5 million new subscribers in the next three months.