YOU MAY THINK that sharing your Netflix password with friends is just your little secret, but Netflix is on to you. And the company is vaguely considering how to counter your wonderfully generous spirit/despicable blatant theft.
In the company's Q3 2019 Earnings Interview published on YouTube - oddly this isn't considered must-watch TV like Stranger Things or Black Mirror so isn't actually on Netflix - CFO Spencer Neumann made it clear the company is considering its options.
"We continue to monitor it," Neumann said when asked about password sharing. "We're looking at the situation and we'll [look for] those consumer-friendly ways to push on the edges of that."
Presumably "consumer-friendly" means friendly to paying customers rather than the freeloaders, but who knows? If this sounds vague, it's probably because it is, with Neumann adding that the company has "no big plans to announce at this time in terms of doing something different."
Netflix wouldn't be the first company to take action. Last month Spotify announced it'd be periodically checking in on location data to make sure that family accounts aren't being abused by sharers, and while that's an unpopular move you can see why.
According to research company Magid, around nine per cent of users share passwords for streaming services. Worryingly, that number gets larger the younger the users get with just 13 per cent of Baby Boomers, compared to 19 per cent of Generation X and 35 per cent of millennials.
Even looking at the smaller overall figure, nine per cent of 137 million Netflix accounts is still a lot of potentially lost revenue. No wonder the company is looking at the problem, even if it's in a somewhat abstract sense for the time being. µ
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