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Edited By: Shaurya Sharma
Last Updated: January 20, 2023, 15:24 IST
It is uncertain if ‘paid sharing’ will make its way to India.
Netflix plans to expand its ‘paid sharing’ option to more countries in Q1’23 in order to increase revenue and discourage password sharing.
Netflix is all set to make account password sharing a thing of the past, as it doubles down its commitment to increase revenue by opening “additional revenue streams,” by introducing ‘paid sharing’ to more countries and exploring advertising possibilities.
The company, in its shareholder letter, has said, “We expect to roll out paid sharing more broadly later in Q1’23. We anticipate that this will result in a very different quarterly paid net adds pattern in 2023, with paid net adds likely to be greater in Q2’23 than in Q1’23.”
Netflix is aware that following this move, it might see some ‘cancel reaction’ in Latin America across markets and it may impact “near term member growth.” But once “borrower households begin to activate their own standalone accounts and extra member accounts are added,” the company expects to see better overall revenue—which is their goal with all plan and pricing changes.
Currently, it is uncertain if ‘paid sharing’ will make its way to India or not, but if the past is any indication—we might see the company rolling it out following other countries—including those in Latin America.
Netflix is also limiting account use to one household, but they have added new features to improve the experience. Users can now check which devices are accessing their account and transfer profiles to new accounts. They will also have the option to pay extra to share their account with non-household members.
“As we roll out paid sharing, members in many countries will also have the option to pay extra if they want to share Netflix with people they don’t live with, the company said. And, “as is the case today, all members will be able to watch while traveling, whether on a TV or mobile device.”
Netflix lost subscribers in 2022 and fell short of its goal for gaining new ones. To save costs, the company has laid off talent. The company claims, despite a challenging start to the year, it has a strategy to strengthen the company by improving their services, introducing paid sharing options, and increasing their advertising possibilities.
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