Netflix breathed a sigh of relief after adding 2.4 million new customers in the third quarter of 2022. Due to the ongoing poor economic conditions, increased competition in the OTT space, and increased demand for content, the OTT platform saw its first-ever decline in subscribers in the initial two quarters of this year. However, Netflix password sharing was one of the most concerning reasons for the decrease in the subscriber base. To address this issue, Netflix will charge users an additional fee for sharing their passwords.
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Netflix has announced that beginning in 2023, users will be charged a fee for sharing their accounts with other users. The price will be added to the billing information as “additional members.” Netflix has yet to reveal how much it will charge subscribers for sharing their passwords with other users. According to some sources, the additional fee charged by Netflix will be between $3 and $4.
According to reports, Netflix lost nearly 2,00,000 paid subscribers in the March quarter and about 9,70,000 paid subscribers in the June quarter. However, according to the third quarter revenue report, Netflix has regained 2.41 million subscribers. To increase revenue even further, Netflix has announced lower-cost ad-supported plans.
Users Will Have To Pay Extra To Share Their Netflix Password: Details Here
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The Basic with Ads plan will include 5 minutes of advertising per hour and will be less expensive than standard plans. In the United States, for example, Netflix will begin at $6.99 per month (down from $9.99 today). These plans will be less expensive while still providing high-quality streaming content. As a result, more subscribers are adding up.
The Netflix ad-supported subscription plan will be available on November 1 in Canada and Mexico, November 3, 2022, in Australia, Brazil, France, Germany, Italy and the United States, and November 10 in Spain. While no such plans have been announced for India, the OTT behemoth is expected to bring them there soon.
Varushi Yadav
I'm a 4th-year law student at the University of Petroleum and Energy Studies, along with that I'm a creative content writer. So far I have written law-related articles, I like to explore more and I'm always ready to learn more.