Netflix has been trying to deter people from sharing their accounts with their friends almost for as long as the company has been in existence. During Tuesday's Q3 2022 earnings report, the company outlined its latest efforts to try and get sharers on their own plans by making the transition slightly easier.
"We’ve landed on a thoughtful approach to monetize account sharing and we’ll begin rolling this out more broadly starting in early 2023," reads the Netflix Letter to Shareholders that released with the Q3 2022 earnings report. "After listening to consumer feedback, we are going to offer the ability for borrowers to transfer their Netflix profile into their own account, and for sharers to manage their devices more easily and to create sub-accounts ('extra member'), if they want to pay for family or friends. In countries with our lower-priced ad-supported plan, we expect the profile transfer option for borrowers to be especially popular."
Netflix has begun making efforts to combat password sharing throughout the year. The experiment was detailed earlier this year with the company testing out its new policies in Peru, Chile, and Costa Rica. It did not go well, as the efforts led to confusion and a large number of subscription cancellations.
The company previously detailed how its account sharing will work on the Netflix website. The end goal for Netflix appears to be a world where people don't share passwords at all and this latest approach looks to be a step in at least making that transition painless. Still, it's unknown how Netflix can actually go about enforcing this idea effectively. Those details may be coming another day.
For now, it's been a good day for Netflix in terms of finances and its Q3 2022 earnings. We're continuing to peruse today's earnings reports for additional news, so keep it on Shacknews for any further updates.
Ozzie Mejia posted a new article, Netflix (NFLX) will roll out new account sharing & profile transfer options in early 2023
This is part of Netflix’s earning results today, which says the company added 2.4 million subscribers this quarter as the streaming service looks to launch its ad-supported tier next month and clamp down on password sharing. The streamer says it has grown by 104,000 paid subscribers in the US and Canada over the last three months, up from 73,000 in the same period last year, and says it remains committed to the “bingeable release model.”
Netflix: not dead