Netflix will restrict password sharing in the first quarter of 2023

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Netflix will restrict password sharing in the first quarter of 2023

The end of the password sharing party is here. It was reported late last month that Netflix planned to phase out password sharing in early 2023. Now it’s time.

The company said during its latest earnings reports that it plans to enforce password sharing rules “by the end of the first quarter of 2023.

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According to Netflix:

While our terms of use limit Netflix use to one household, we recognize that this is a change for members sharing their accounts more broadly. As we roll out paid sharing, members in many countries also have the option to pay extra if they want to share Netflix with people they don’t live with.”

Although it does not specify a date, reports believe it the rules could go into effect sometime in April.

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Netflix said it expects some users to cancel in response to these new rules, but was adamant that the long-term benefits of people paying for additional accounts will make it worth it.

And while Netflix has yet to specify how much more it will cost to share passwords with users, early reports say so the additional cost can be around US$3.

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In other news, Netflix also announced during its quarterly earnings call that co-founder Reed Hastings will step down as co-CEO and assume the role of executive chairman.

Greg Peters, Netflix’s former chief operating officer, will replace him and become co-CEO alongside Ted Sarandos, who was already co-CEO.

Source: Netflix via The Verge