Sharing Netflix password will incur an extra charge

OTT platform Netflix has prepared to charge extra charges from users who share passwords. The company said that the biggest reason for the slow growth of the platform has been password sharing. OTT platform is the future now. Keeping this in mind, the company will charge additional fees from users who share their login ID and password from the beginning of 2023.
Netflix's quarterly report was released on Tuesday. With the release of the report, Netflix said, 'Finally, we have decided to charge extra to users who share the account. Extra fees will be charged to these users on a large scale from the beginning of 2023.
Netflix's product innovation director Chenghai Long said that his members love Netflix's movies and TV shows. So much so that they share them on more and more social media. However, due to account sharing among friends, more members do not subscribe to Netflix. This does not increase the number of users and the company suffers losses.
The Netflix executive said, “The future of the entertainment industry is OTT platforms. Other streaming platform owners are spending billions of dollars to grow their products. Right now they are not getting a profit. But in the future, it is going to get a lot of profit.
Netflix has not yet released the price of the new plan. It is being told in the reports that the monthly price of the new plan can be between 3 to 4 dollars (about 249 to 332 rupees). Users who do not want to pay extra fees can use Netflix's migration tool. With the help of this tool, users will be able to transfer their profiles easily.