Netflix has confirmed it will charge households worldwide for "shared accounts" as a way to crack down on password sharing.
Netflix has confirmed it will charge households worldwide for "shared accounts" as a way to crack down on password sharing.
Netflix has been warning people for a long time that they were going to crack down on password sharing and the time has finally come.
Netflix co-CEO and chief content officer Ted Sarandos tossed cold water on hopes that the streamer’s recent deal with major cinema chains for Glass Onion: A Knives Out Mystery could be the start of something bigger.
EXCLUSIVE: Jack O’Connell and Matthew Duckett have joined Golden Globe Winner Emma Corrin in Lady Chatterley’s Lover for Sony’s 3000 Pictures and Netflix. This will be the first film to be produced under the new partnership where Sony Pictures will offer Netflix a first look at any films it intends to make for streaming.
Todd Spangler NY Digital Editor Shares of Netflix were down more than 8% in early trading Thursday, coming after the streamer blew away estimates on subscriber gains for the second quarter — and analysts saying the company continues to be well positioned to weather Hollywood’s double actors and writers strike relative to its peers. But investors had been anticipating a bigger bump from its new initiative to monetize password-sharing accounts. Note that Netflix’s post-earnings stock drop came amid high investor expectations leading into the Q2 report: Shares were up nearly 62% year to date in 2023. Revenue for Q2 came in at $8.19 billion, shy of Wall Street’s $8.3 billion consensus expectations. And Netflix’s guidance for Q3 revenue of $8.52 billion also was less than the $8.9 billion average forecast by analysts. The company added 5.9 million net new subs in the second quarter, more than double expectations, and said it expects to add about the same number in Q3.
Netflix has begun its account-sharing crackdown by sending out emails to UK customers who have been sharing accounts with other households.The streaming giant said a Netflix account was “for use by one household” and those wanting to share theirs must pay £4.99 to do so.In a statement posted by Netflix, they explained: “Starting today, we will be sending this email to members who are sharing Netflix outside their household in the United Kingdom.Breaking: Netflix has begun rolling out its password sharing crackdown in multiple regions including the United States. pic.twitter.com/QkX8rfVdnD— What's on Netflix (@whatonnetflix) May 23, 2023“A Netflix account is for use by one household.
Todd Spangler NY Digital Editor Warner Bros. Discovery has jumped on the password-sharing crackdown bandwagon, with a top exec saying Max will begin enforcing restrictions on subscribers sharing accounts outside their household starting this year — following the trail blazed by Netflix, which was more recently joined by Disney.
Zack Sharf Digital News Director Zack Snyder appeared on “The Joe Rogan Experience” and championed his recent pivot to Netflix. The 58-year-old filmmaker spent the bulk of his career making movies at Warner Bros., but he made the jump to streaming starting with the 2021 release of his zombie action movie “Army of the Dead.” Snyder’s latest Netflix original was “Rebel Moon,” which debuted in December and kicked off a new space saga for the streaming giant. A second “Rebel Moon” film arrives this spring.
Netflix is hoping that its paid sharing option will “accelerate” revenue growth in the second half of 2023, the streamer revealed during its second quarter earnings report. This news comes in the wake of the company’s mass password crackdown. The streamer officially launched its paid sharing option in May, allowing users outside of a subscribed household to subscribe to the household’s plan for an additional monthly fee.
Netflix added 5.9 million global subscribers, reaching 238.3 million, with password sharing pushing subscribers to the months-old $7-a-month plan with advertising.
Jennifer Maas TV Business Writer Netflix reported its second-quarter 2023 earnings Wednesday, revealing its subscribers increased by 5.89 million in the quarter ended June 30. At the end of Q1, Netflix’s global subscriber count was 232.5 million. Analysts had project the streamer gaining 1.769 million new subscribers in Q2, which saw Netflix begin notifying customers in the U.S. and other countries that users on their accounts who live outside their households would need to be added as an “extra member” (or pay for their own subscriptions). Wall Street forecast earnings per share (EPS) of $2.86 on $8.3 billion in revenue, according to analyst consensus data provided by Refinitiv. Netflix reported diluted EPS of $2.88 on $8.2 billion in revenue.
Todd Spangler NY Digital Editor Netflix’s move to start broadly monetizing password-sharing users — after years of tacitly allowing the practice with a wink and a nod — could help the streamer beat Q2 2023 earnings targets. The company again kicks off tech and media sector’s second-quarter earnings season, scheduled to report Q2 earnings on Wednesday (July 19) after the market closes. A key question on investors minds will be how well Netflix is prepped to weather the double-whammy of SAG-AFTRA and WGA strikes. In April, before either of the strikes commenced, co-CEO Ted Sarandos told analysts, “We do have a pretty robust slate of releases to take us into a long time” in the event of labor walkouts.
Andy Cohen is clarifying whether there’s any beef with Mauricio Umansky over what he’s opening up about on Netflix‘s Buying Beverly Hills.
Netflix’ crackdown on password sharing, or as the streamer calls it a focus on “paid sharing,” will drive growth for years to come, said the streamer’s co-CEO, addressing a Wall Street concern that benefits may top out this year.
EXCLUSIVE: Stand-up comic Deon Cole is set to return to Netflix with a third hour-long comedy special, to premiere later this year. While a title and logline haven’t been shared, he’ll tape his new hour at the LA Theater on May 2nd, as part of Netflix Is A Joke Fest 2024.
Prime Video is not about to let rival Netflix forget about its previously benevolent attitude toward password sharing.
A number of Netflix rivals are offering free trials to tempt subscribers as the former 'chill' platform is criticised for its password charging extras, those who share details with family and friends face higher rates. Up until now, using someone elses log in has been a popular way at splitting the cost of the £6.99 subscription.
GammaWire, some users have encountered an inquiry when they log on asking for verification that they are the owner of the Netflix account.
Netflix continued to add subscribers in the U.S. at a high rate in July after initiating a crackdown on password sharing in May, according to new data from research firm Antenna.
Netflix knows you’re a thief. The streaming service knows you’ve been using the login information given to you from your friend, co-worker, parents, or ex-partner.
Netflix has been tightening its controls on password-sharing, a shift that could reap billions in previously lost revenue, but the company acknowledges it is a delicate process.
Todd Spangler NY Digital EditorNetflix wants people to pay their fair share to access its streaming service.
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Netflix will send out emails to thousands of Netflix users today, warning them that they may lose access to their accounts.
Netflix customers in the UK are being issued new information about the crack-down on password sharing and how they can follow the new regulations.
On a blog found on its media site, the streaming giant outlined the email it would be sending to subscribers who are sharing Netflix outside their household in the United States. “Your Netflix account is for you and the people you live with — your household,” the email begins. It then reassures users that they will still be able to “easily watch Netflix on the go” through either personal devices, hotel TVs or vacation homes.
crackdown on password sharing in the United States, alerting users that their accounts cannot be shared for free with people outside of their households.The streaming video pioneer has been looking for new ways to make money as it faces signs of market saturation, with efforts including the password crackdown and a new ad-supported service.The company said it was emailing customers who have been sharing passwords to tell them they can add an extra member outside their homes for $8 per month.They can also transfer a person’s profile so the user can keep their viewing history and recommendations.People within the same household can continue sharing the same Netflix account and can use it on various devices when traveling, the company said in a blog post.Netflix announced last year that it was going to limit password sharing and had already tested various approaches in some markets.
Netflix’s long-anticipated effort to reclaim revenue it has lost due to password sharing has officially arrived in the U.S., with the company notifying subscribers about its new policy via email this week.
Todd Spangler NY Digital Editor If you’re sharing your Netflix password with someone who doesn’t live with you, get ready to pay up — it will cost $7.99 per month extra to add another user to your account. On Tuesday, Netflix said it is launching its crackdown on illicit password sharing to its biggest market, the U.S., angling to squeeze a bigger chunk of change from customers who share their logins with friends and family outside their household. “Your Netflix account is for you and the people you live with your household,” Netflix says in an email to U.S. customers. To share Netflix with someone outside of your household, you can transfer a profile to a new membership that someone else pays for, or you can buy an extra member for $7.99/month in addition the cost of the main subscription.
Disney Hires Netflix EMEA Exec Emma Smart Disney has recruited Emma Smart, Netflix’s London-based director of business affairs for original series, as its VP for business affairs, originals. Smart will report to Diego Londono, Disney’s EVP, media networks and content, negotiating UK-based original productions, as well as having oversight of European production deals.
Todd Spangler NY Digital EditorNetflix is trying a new way to get paid by password-borrowing freeloaders.The company is rolling out an option in five Latin American countries under which customers can enable access from an additional home legitimately, for an extra monthly fee.Starting next month, Netflix will launch an “add a home” feature in Argentina, the Dominican Republic, El Salvador, Guatemala and Honduras. That will add the ability for anyone in each additional home to stream Netflix on any device, at a price lower than a full standalone membership.That comes after the streamer in March rolled out an “add extra member” feature in Chile, Costa Rica and Peru, which lets customers pay a monthly fee to let individuals outside their households access Netflix.
Zack Sharf Johnny Depp’s return to acting following his defamation trial against Amber Heard is not being backed by Netflix. Bloomberg reported that the Depp-starring French movie “La Favorite” is receiving “financial backing” from Netflix, but a source close to the streaming giant told Variety this reporting is not true. Netflix is not financing the movie but has licensed the film to stream in France only after it completes the country’s 15-month theatrical window.
Ethan Shanfeld Ever since the dawn of social media, fans have found creative ways to obsess over their favorite TV shows — be it chat rooms littered with “Lost” theories; Tumblr pages dedicated to “Teen Wolf”; or “Game of Thrones” hashtags filled with millions of tweets during just one episode.A handful of years ago, the internet birthed yet another mechanism to interact with television: “no context” Twitter accounts. True to their name, these profiles post captioned screenshots from popular series — from “Glee” to “Succession” — removed from the context of the show.There are no context accounts for series ranging from “The Sopranos” to “Queer Eye” to “SpongeBob SquarePants,” while 274,000 Twitter users follow a profile solely dedicated to Nick Miller (Jake Johnson) of “New Girl.” “The Office” alone has more than a dozen no context accounts, the most popular of which has over half a million followers.
Netflix could be cracking down on account sharing with a new fee as the company launches a new advertising subscription plan today.
Todd Spangler NY Digital Editor Netflix wants to make it as simple as possible for people who have been using someone else’s account — possibly in violation of the company’s terms of use — to set up a separate paid membership. On Monday, Netflix is launching Profile Transfer, a feature that lets anyone on an existing account migrate their profile to a brand-new account while preserving all of their personalized recommendations, viewing history, My List, saved games and other settings. Profile Transfer, which Netflix says has been “much requested” by customers, will roll out to all members worldwide starting Monday. Users will be notified by email when Profile Transfer becomes available on their account.
Patrick Frater Asia Bureau Chief A growing range of Thai, Japanese and Chinese-language films and TV shows are reaching global audiences – joining the by-now well-established international viewership for South Korean shows.Netflix’s Global Top 10 for the week April 3-10, sees made-for-streaming Korean title “Kill Boksoon” on top of the non-English-language films list, with 27.5 million hours watched in its second week of release. It is immediately followed by Thai film “Hunger,” about a young woman apprentice in an upmarket restaurant working under a tough boss. The film is directed by Sitisiri Mongkolsiri and stars “Bad Genius” breakout Chutimon Chuengcharoensukying.
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