The logo of Netflix is pictured at the 2022 Paris Auto Show in Paris, France October 17, 2022. REUTERS/Stephane Mahe Acquire Licensing Rights
Feb 8 (Reuters) – Netflix Inc (NFLX.O) on Wednesday laid out plans to crack down on password sharing for accounts on its streaming platform, including setting up primary location and paying a couple of dollars for an extra member.
The video-streaming giant, which has estimated that 100 million around the world use a shared account, said that members can now easily manage who has access to their account, transfer profile to a new account and still easily watch Netflix on their personal devices or log into a new TV.
"So over the last year, we've been exploring different approaches to address this issue in Latin America, and we're now ready to roll them out more broadly in the coming months, starting today in Canada, New Zealand, Portugal and Spain," the company said in a blogpost.
Members on Netflix's standard or premium plan in many countries can add an extra member sub account for up to two people for an extra C$7.99 a month per person in Canada, NZD$7.99 in New Zealand, 3.99 euros in Portugal, and 5.99 euros in Spain, the company said.
The company lost subscribers in the first half of 2022 amidst stiff competition from rivals, prompting it to look more seriously into password sharing and launching an ad-supported plan.
(This story has been refiled to correct the syntax in the headline and in paragraph 1)
Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber
Our Standards: The Thomson Reuters Trust Principles.
UBS will absorb Credit Suisse's Securities Research service later this month, wrapping the business into its own research operations, the bank said in a letter seen by Reuters on Tuesday.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2023 Reuters. All rights reserved