Netflix users around the world have been reacting to the streaming service’s new policy on password sharing as Netflix will begin charging for sub-accounts on the platform starting next year.
It has been reported that Netflix has lost approximately 1,000,000 subscribers since the announcement was made. Fierce Video has also reported that 13-percent of all Netflix subscribers would cancel their subscriptions if they were to be charged extra money for sub-accounts.
An article on CBS News stated, “Currently, a Netflix account holder can add up to give profiles to their account. Those profiles will become sub-accounts starting in early 2023.”
For many years, there have been suspicions that Netflix would implement this change as it has become very common for people to find ways to avoid paying for a monthly subscription. Many Netflix account holders shared passwords with friends and family to use the streaming service more cost-effectively.
Currently, there are three different plans that Netflix offers. These include the basic plan which costs $9.99 per month, the standard plan which costs $15.49 per month and the premium plan which costs $19.99 per month. The most popular plan is the standard plan, which allows people to watch on two supported devices at a time, which is half the amount that the premium plan offers.
According to Fierce Video, when Netflix’s new policy becomes active in early 2023, the company will begin charging an additional $3.00 per month for every out-of-home user.
This new policy has the potential to affect many college students who no longer live with their parents and do not have cable in their dorm rooms.
“Netflix raising their prices is bad because as college students, we already don’t have a form of income unless we work, and the majority of us freshmen don’t work,” freshman nursing student Kaylin Parks said. “It is hard for us to save money, especially for those who are no longer receiving financial support from their parents.”
Other N.C. A&T students also voiced their dissatisfaction with Netflix’s forthcoming change.
“I feel as if Netflix thinks that they have the whole streaming service game on lock and they can charge as much as they want but with other streaming services that are competitors, Netflix is digging themselves a grave and being greedy by upping their cost,” freshman biological engineering student Caleb McCoy said. “I use HBO Max the most, personally, because I feel like they have the best variety and it’s cheaper than the standard Netflix plan.”
Netflix’s decision could cause a major decrease in the amount of profit that is made. With a decrease in one million subscribers before the policy becomes active, it is a clear indicator that the number of subscribers to Netflix is likely to continue to drop.
Subscribers will likely turn to streaming services such as Hulu, HBO Max, Disney Plus, Prime Video and many others to satisfy their streaming needs at a more affordable price point.
