Tech News | Netflix to Introduce New Password-sharing Payment Plan in 5 Countries
Get latest articles and stories on Tech at LatestLY. Netflix is experimenting with a new method of payment from freeloaders who steal passwords.
Washington [US], July 19 (ANI): Netflix is experimenting with a new method of payment from freeloaders who steal passwords.
According to Variety, the company is introducing a feature that allows customers to legitimately enable access from a second home for an additional monthly fee in five Latin American nations.
The "add a home" feature will be available on Netflix in Argentina, the Dominican Republic, El Salvador, Guatemala, and Honduras starting the following month. Anyone in each additional home will then be able to stream Netflix on any device at a price that is less expensive than full standalone membership.
This comes after the streaming service in March launched a feature called "add extra member" in Chile, Costa Rica, and Peru that allows users to pay a monthly fee to grant access to Netflix to people outside of their households.
According to Netflix, users share their login information with more than 100 million non-paying households worldwide, including more than 30 million in the United States and Canada, in violation of the company's terms of service.
As per Chengyi Long, Netflix's director of product innovation, "widespread account sharing between households undermines our long-term ability to invest in and improve our service".
It will cost Netflix subscribers in the five new markets 219 pesos per home per month in Argentina and USD2.99 per home per month in the Dominican Republic, Honduras, El Salvador, and Guatemala to purchase an additional "home" for streaming access.
Customers with the Basic plan may add one additional home; those with the Standard plan may buy up to two additional homes, and subscribers to the Premium tier may buy up to three additional homes.
Customers can add up to two Extra Member accounts for an additional USD2-USD3 per month each in Netflix's tests in Chile, Costa Rica, and Peru.
Notably, rather than the actual walls of a home, Netflix's password-sharing policies apply to everyone in a customer's household. As an illustration, the company said paying customers can access Netflix while travelling.
On its customer-support website, Netflix states that it may occasionally ask you to verify your device "if you are away from the Netflix household for an extended period of time."
The second quarter of 2022 results for Netflix is expected to be announced on Tuesday, July 19, following the market close. The streamer had previously predicted a net loss of 2 million subscribers worldwide, but some Wall Street analysts think the number will be lower in the second quarter thanks to the success of "Stranger Things 4", as reported by Variety.
According to projections made by Wall Street firm Cowen, Netflix could increase its annual global revenue by USD1.6 billion if it implemented password-sharing payment upgrade plans everywhere. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)