Netflix plans to expand its ‘paid sharing’ option to more countries
Netflix is stepping up its efforts to make more money by expanding “paid sharing” to more countries and looking into advertising options. Both of these things would make it impossible to share Netflix account passwords.
The company, in its shareholder letter, has said, “We expect to roll out paid sharing more broadly later in Q1’23.” “We anticipate that this will result in a very different quarterly paid net adds pattern in 2023, with paid net adds likely to be greater in Q2’23 than in Q1’23.”
Netflix anticipates “cancel reaction” across Latin American markets as a result of this change, which could affect “near-term member growth.” Their hope, with all of these plan and price adjustments, is that “borrower households will begin to activate their own standalone accounts and extra member accounts will be added,” which would increase their overall revenue.
While it is unclear at this time whether or not “paid sharing” will arrive in India, the company has previously introduced the feature in other regions, such as Latin America.
Netflix has also restricted accounts to one per household, but the service now includes more content and better customization options. Account holders can now view activity from all of the devices that have signed in to their account and transfer their settings to other email addresses. In addition, they can pay a fee to make their account accessible to people outside of their household.
“As we roll out paid sharing, members in many countries will also have the option to pay extra if they want to share Netflix with people they don’t live with,” the company said. And, “as is the case today, all members will be able to watch while traveling, whether on a TV or mobile device.”
In 2022, Netflix lost subscribers and was unable to meet its goal of adding new ones. The company has reduced staff in an effort to cut costs. The business claims it has a plan to recover from a sluggish start by enhancing services, introducing paid sharing options, and expanding advertising opportunities.