Netflix: you will have to pay to add profiles to your account

the essential
Netflix’s new co-CEO Greg Peters confirms the rollout of anti-account sharing measures in the coming months.

There are going to be changes at Netflix. The streaming service will soon put an end to an ingrained habit among many of its users: account sharing. Netflix will soon force its users to pay to add profiles to their account, instead of sharing their password for free. The measure should be implemented before April 2023. The price is not yet known.

At Netflix, we know that the measure will be badly perceived by some of its 230 million users worldwide. “It’s not going to be a universally popular decision,” Netflix co-CEO Greg Peters said. He even expects “a wave of departures in reaction”, he explains in an interview with the American magazine variety.

The new boss does not hide his ambitions: “more users”, “more commitments” and “more sources of income”. Its shareholders are demanding better results. In the first half, Netflix lost 1.2 million subscribers worldwide but gained 7.66 million between October and December. In 2022, Netflix achieved a turnover of 31.6 billion dollars (+ 6.4% over one year) but its net profit fell by 12% to 4.5 billion.

To improve its income, Netflix launched a cheaper subscription at €5.99 per month with the arrival of advertising. The streaming service has canceled several series and plans to release 48 films in 2023, almost half of 2022.

Netflix saw several hits in 2022 such as new seasons of hit shows like “The Crown,” about Queen Elizabeth II, and “Emily in Paris.” New programs, including the phenomenon series “Wednesday” and the documentary series “Harry & Meghan”, where the princely couple recounts how they decided to abandon the British monarchy, have also largely contributed to the popularity of the platform.