edited by: Shaurya Sharma
Last Update: January 20, 2023, 15:24 IST
It is uncertain whether ‘paid sharing’ will make its way to India.
Netflix plans to expand its ‘paid sharing’ option to more countries in Q1’23 in a bid to increase revenue and discourage password sharing.
Netflix is all set to make account password sharing a thing of the past, as it doubles down on its commitment to grow revenue by introducing ‘paid sharing’ in more countries and opening up “additional revenue streams” by exploring advertising possibilities .
The company said in its shareholder letter, “We expect to share payouts more broadly later in Q1’23. We anticipate this will result in a very different quarterly payout net accrual pattern in 2023, with Paid net additions are likely to be higher in Q2’23 than in Q1’23.
Netflix is aware that following the move, it may see some ‘cancellation reaction’ in markets in Latin America and that this could affect “near term subscriber growth”. But once “borrowing households begin activating their own standalone accounts and additional member accounts are added,” the company expects to see improved overall revenue—which is what they’re aiming for with all the plan and pricing changes. .
Currently, it is uncertain whether ‘paid sharing’ will make its way India Or not, but if the past is any indication – we could see the company rolling it out after other countries including Latin America.
Netflix is also limiting account usage to one household, but they’ve added new features to improve the experience. Users can now check which devices are accessing their account and transfer profiles to new accounts. They will also have the option of paying extra for sharing their account with non-household members.
“As we introduce paid sharing, members in many countries will also have the option of paying extra to share netflix People they don’t live with, the company said. And, “as is the case today, all members will be able to watch while on the go, whether on a TV or mobile device.”
Netflix lost subscribers in 2022 and fell short of its target to acquire new ones. To save costs, the company has trimmed talent. The company claims that despite a challenging start to the year, it has a strategy to strengthen its services by improving its services, introducing paid sharing options and increasing its advertising possibilities.
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