Netflix stops password sharing in India

1 of 1

New Delhi. Streaming giant Netflix on Thursday announced that it has stopped password sharing in India and will now alert customers who are sharing their accounts outside their homes.

“Starting today, we will send an email to members who are sharing Netflix outside their home in India,” the company said in a statement.

stated that “a Netflix account is for use by one household. Everyone in that household can use Netflix, wherever they are. At home, on the go, on vacation—and can take advantage of new features like transfer profiles and manage access and devices.”

In May, the streaming giant launched paid sharing in more than 100 countries, which represent more than 80 percent of the company’s revenue base.

According to Netflix, revenue in each territory now exceeds pre-launch, with sign-ups already exceeding cancellations.

The company noted that $5.9 million was paid in the second quarter of this year.

In addition, now payment sharing is starting in almost all remaining countries.

In its 2023 second quarter earnings report, the company said: Revenue of $8.2 billion and operating profit of $1.8 billion, generally in line with our forecast — and we expect revenue growth to accelerate in the second half of ’23 as we begin to see the full benefits of payment sharing and continued growth in our advertising-supported plan.

“We are still targeting full year 2023 operating margin of 18 percent to 20 percent.”

The report also mentions that the platform is “seeing healthy conversion to families borrowing full paid Netflix subscriptions as well as our additional members feature”.

“Most of our revenue growth this year came from increased volume through new paid subscriptions, and this was largely driven by our paid sharing rollout,” Netflix Chief Financial Officer Spencer Adam Neumann said.(IANS)

read this also – Click to read the news of your state / city before the newspaper