Netflix ‘Satisfied’ With Password Sharing Crackdown Progress – Here’s What Sarandos Said – News18

Netflix co-CEO Ted Sarandos lately expressed satisfaction with the corporate’s progress in curbing password sharing within the United States. During a convention at UBS Global Media and Communications, Sarandos said that the corporate is “completely satisfied” with the tempo of its password-sharing crackdown efforts.

“We’re completely satisfied with the pace of it It’s been very good to take it slow and deliberate, and we’re rolling it out in a very thoughtful way,” Sarandos stated.

Netflix started its password-sharing crackdown within the United States earlier this 12 months. Password sharing restrictions then expanded to Canada, New Zealand, and a few European nations in February 2023, earlier than coming to the US, UK, and different nations in May 2023.

The firm has been regularly rolling out new measures to establish and forestall password sharing, equivalent to requiring customers to confirm their accounts with a cellphone quantity or e mail deal with.

According to Reuters, Netflix allowed password sharing to proliferate for greater than a decade earlier than deciding to crack down on it. The change got here as a result of within the first quarter of 2022, Netflix misplaced subscribers for the primary time in 10 years and noticed a pointy drop in income.

To improve earnings, Netflix ended password sharing, hiked costs, and launched a tier with ads.

According to the streaming big , an estimated 222 million paying households had been sharing with an extra 100 million households that weren’t being monetized.

“We’re very mindful of the fact that people care a lot about Netflix,” Sarandos stated. “We want to make sure that we’re doing this in a way that’s respectful of our customers and that’s going to be effective in the long run.”

Netflix has not but launched any information on how its password-sharing crackdown has impacted the corporate’s backside line. However, Sarandos has stated that he’s assured that the measures shall be profitable in the long term.

“We think it’s the right thing to do,” Sarandos stated. “It’s going to help us build a stronger, more sustainable business for the long term.”