Business is keeping a close eye on the problem
Netflix has actually announced it is seeking to limit password sharing.
The subject of password sharing was talked about in the streaming platform’s Q3 2019 revenues interview previously this week.
When users share passwords, they are essentially sharing a single Netflix account, which naturally prevents Netflix’s organisation design, according to which each family needs to have its own account.
Users are currently able to share accounts to some degree by establishing several seeing profiles on a single login, but password sharing takes that method to another level.
Greg Peters, Netflix’s primary product officer, was asked throughout the interview how the company plans to address password sharing without “pushing away a specific portion of [its] user base”.
” We continue to monitor it so we’re looking at the situation,” Peters stated.
” We’ll see those consumer-friendly methods to push on the edges of that.”.
Peters said the company didn’t have “big strategies” to announce right away.
Password sharing has actually been a topic of interest in the streaming market for a long time.
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According to the research company Magid, 35 per cent of millennials share their passwords for streaming services, compared to 19 percent of Generation Xers and 13 per cent of Baby Boomers.
Overall, it is approximated by Magid that 9 percent of consumers engage in password sharing. While that percentage does not appear high at first glimpse, the practice can amount to millions of dollars.