Netflix announced on Thursday that it has banned password sharing in India.
According to NDTV, after this announcement, only one household in India will be able to use Netflix.
Netflix’s decision is part of a global crackdown announced in May this year. To ban users who share connections outside their home.
This decision has been taken to reduce the financial deficit incurred last year. And earn more profit.
The video streaming company has said in its statement that ‘everyone living at home can use Netflix. Whether they are at home or on the go. They can take advantage of the new features of Transfer Profile and Manage Essic End Devices.
The company says we have started sending emails to our users who are streaming Netflix outside of their homes.
Banned password sharing
The video streaming platform banned password sharing in 100 countries around the world in May. Including these countries considered to be its key markets such as the US, UK, France, Germany, Australia, Singapore, Mexico, Brazil and more
The crackdown has added 6 million more new subscribers to the company’s subscriber base.
Netflix have acquired more than 230 million subscribers in the month of June 2023. And the company will have made a profit of one and a half billion dollars.
Speaking to French news agency AFP, Netflix’s chief investment officer, Louis Neuviller, he said that the password crackdown is working. Face it.’
He said more that he was very happy to see the results. I think they (Netflix) have achieved great success with the growth of subscribers and business.
In its earnings statement, Netflix said that password sharing will be banned worldwide.
Netflix has introduced a boreware or shared option for free Netflix viewers to become subscribers. After which account holders can add additional profiles by paying more.
Along with the crackdown, It introduced an offer called ‘ad subsidised’, after which the company on Wednesday announced the end of its lowest ad-free plan, which was $10 a month.