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Netflix recently announced it will be collecting fees from subscribers who share passwords with other users. The streaming giant is taking this step to prevent people, who do not pay, from using the service.
Moreover, Netflix is revising its sharing policy as it struggles to make a steady profit and growth. However, many people in South Korea are against the implementation of the added fees for password-sharing and they expressed their disagreement by saying they will ditch the service once the new policy is applied.
The streaming service provider said that it has been allowing people to share log-in details for a long time now. This allowed subscribers to share their passwords so many people can make use of the account but today, the company said it is time to end this practice so it can also grow.
Korea Joongang Daily reported that Netflix sent a note to its shareholders last month and relayed that they will start the rollout of the new paid-sharing plan. Customers can expect this by the end of the first quarter.
The company will be charging extra fees if the account is detected to share with another person who is not a member of the household who has subscribed to the service. This change will also be implemented in South Korea in a few months but many already said they will not subscribe once their access to the service is cut since they are not the main subscriber.
"We expect some cancel reaction when we roll out paid sharing," Netflix stated in its note to shareholders. The company explained that its earnings are bound to improve in the long term as freeloaders start to sign-up and activate their own accounts.
Meanwhile, based on Netflix’s estimates, over 100 million of its 231 million subscribers have shared their passwords with others.
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