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Netflix is making a major change!
During a recent interview, the streaming company was discussing how password sharing affects their revenue. Each household is supposed to have their own account, according to the service.
Users are allowed to share accounts to some degree by setting up different viewing profiles on a single login. However, password sharing has risen to another level.
Greg Peters, Chief Product Officer said that Netflix plans to solve the issue “without ignoring a certain portion of its user base.” During the interview Peters also said,
“We continue to monitor it so we’re looking at the situation. We’ll see those consumer-friendly ways to push on the edges of that”
It’s not exactly clear how the streaming service will actually “crackdown.”
Netflix is also gearing up to develop new strategies since Disney and Apple will be launching streaming services as well. The source reports Netflix lost 800,000 subscribers during their second quarter but gained 516,000 in total for 2019.