Netflix's password sharing to discontinue, says company's new CEO

Netflix, the global video streaming provider, has stated that password sharing will be discontinued this year and that the business will launch an advertising-supported tier. In an interview, the new Co-Chief Executive Officers (CEO) Greg Peters and Ted Sarandos revealed further specifics on the termination of password sharing.


According to Peters, the video streaming platform would not degrade user experience even after implementing regulated password sharing in a phased manner. He went on to say that the majority of customers who do not pay for Netflix but use it would soon have to pay for the material.



He stated that it would not be a universally popular event and that the corporation may confront some dissatisfied customers. Furthermore, the CEOs stated that the firm intends to boost its subscriber base by 15 to 20 million, with a concentration on nations such as India.


When asked how many individuals would pay for password sharing, Peters said that the video streaming platform would aim to win back all of these consumers by giving them entertainment like 'Glass Onion' every week.


In November, the OTT platform debuted a lower-priced, ad-supported tier in 12 nations, including the United States, Australia, Brazil, the United Kingdom, Canada, France, Germany, Italy, Japan, South Korea, Mexico, and Spain.


Netflix had 7.7 million paid net additions in the December quarter of 2022, compared to 8.3 million in the same time in 2021. Netflix attracted 1.8 million paying subscribers in Asia and the Pacific in the December quarter, down from 2.58 million in the same period last year. The streamer does not provide India-specific figures separately.


Revenue increased by 2% year over year in the fourth quarter, owing to a 4% rise in average paid memberships. According to Netflix, ARM (average revenue per member) fell 2% year over year but increased 5% on a foreign currency-neutral basis. Operating income of $550 million in Q4 was down from $632 million in Q4 of the previous year.

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Q1 Netflix is a company from which country?
Netflix is an American company.


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149 rupees is the minimum charge for Netflix in India