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Netflix in 2023: sharing your account is about to get expensive

Your Netflix subscription is about to be costlier. Netflix will charge a monthly fee to people who share their usernames and passwords. This OTT giant announced that this phase of password crackdown is ready to start the following year.

Netflix in 2023: sharing your account is about to get expensive
Photo by Thibault Penin on Unsplash

Witnessing slow growth, Netflix is all set to free itself from freeloaders. The process of charging an extra fee is currently being tested in Chile, Costa Rica, and Peru. They are charging 2- $3 more per month there. Netflix has announced that from 2023, this feature will be global. This is what is going on. 

Why is Netflix charging extra? 

Sharing your Netflix password is an unwritten friendship code in this age of streaming. But Netflix has different plans. For many years, this American streaming service never minded its subscribers sharing passwords and enabling hundreds and thousands of non-subscribers to watch Netflix-exclusive shows for free.

Nevertheless, this sweet privilege is about to end. According to CNET, this scheme was initiated after Netflix “recorded its deepest subscriber loss ever earlier this year“.

Netflix in 2023: sharing your account is about to get expensive
Photo by Malte Helmhold

According to Hindustan Times, Netflix has cited one of the major causes behind its slow growth is sharing passwords. Netflix is experiencing back-to-back quarters of subscriber losses, battling the overwhelming competition in the streaming space once it dominated.

On Tuesday, the streaming giant was said to gain 24.1 lakh, new subscribers in the third quarter (Source – Hindustan Times). Generously more than double what it had forecasted. The release of popular shows and movies like Cobra Kai, and The Grey Man has been said to help the boost.

But Netflix has lost 12 lakh customers during the first half of 2022. The company’s chief financial officer Spencer Neumann the company is still not growing as fast as expected.

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The OTT colossal, known for global hits like Squid Games, Narcos, and Money Heist, attests revenue losses. During the briefings for quarterly earnings, Netflix said that it would charge additional fees for sharing login credentials from 2023.

Netflix has been working on this for a long time now. “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.” (Source – Netflix)

The Process is being tested

This is currently being tested in Chile, Costa Rica, and Peru. With an additional extra fee, up to two people can avail of the subscription. Now, for these three countries, the charges are $2.99, 2,380 Chilean pesos, and 7.9 Peruvian sol. 

In India, it can be estimated that it is likely to cost anywhere between Rs 150 to Rs 250.

So far, the charge for “extra members” are uncertain. But it is inevitable that soon you won’t be able to share passwords for free.

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Not only will this extra fee but there also be ads. Netflix will also have a subscription option with ads. This version will soon be released in some countries in November.

According to Firstpost, Netflix has forecasted to gain 45 lakh subscribers for the fourth quarter with all these changes.

Source: Hindustan Times, and Firstpost.com

Written By

Abira Dutta is an Entertainment content writing intern at Empire Weekly. She was born and brought up in Jamshedpur, Jharkhand. She has completed her undergraduate degree in Journalism and Mass Communication from the University of Calcutta and wants to establish her career as a content writer. Writing has always been her passion. She loves to write down the different aspects of life that she comprehends. Something that her love for books, cinema, and photography, made her skillful. She believes that every time she writes something, she learns something. And learning should be a never-ending process. She is a hard-working individual with a keen sense of professionalism.

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