Netflix's crackdown on 'password sharing' starts in 2023

Netflix's patience with freeloaders is running thin, as the streaming service announced to charge users for password sharing from next year, as per USA Today. 

“We’ve landed on a thoughtful approach to monetize account sharing and we’ll begin rolling this out more broadly starting in early 2023,” the letter reads. “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 subaccounts (‘extra member’) if they want to pay for family or friends," Netflix's letter to shareholders.

The latest move by the streaming giant eclipse the efforts Netflix has been putting in to curb password sharing in Latin American countries, as per Market Watch. 

It requires the viewers to watch Netflix in one approved home, while the other subscribers are charged an extra $2.99 for each new home that is streaming the account.

“In countries with our lower-priced ad-supported plan, we expect the profile transfer option for borrowers to be especially popular,” the letter continued to say.

Previously, a dipped in subscribers forced Netflix to start a crackdown on password sharing after ignoring the issue for a long time.