Reports suggest Netflix is preparing a big crackdown on password sharing in early 2023 as the streaming giant continues to lose subscribers amid stiffer competition and rising inflation The company has already ran a trial in South America, and is expected to expand it next year.
This is a far cry from joking on Twitter that 'Love is sharing a password' as it was quickly expanding in the UK in 2017. In an effort to halt the slide, Netflix also introduced in autumn a new cheaper ad-supported tier costing £4.99 a month to attract customers.
Password sharing has cost the company many subscribers, a source familiar with the issue told the Wall Street Journal (WSJ). According to the source, Co-CEO Reed Hastings told senior executives that password sharing has gone on too long and the pandemic only masked how bad it truly was.
