Netflix confirms new account sharing charges as all eyes fall on quarterly results and subscriber numbers
Netflix confirmed reports that it will charge users extra if they use accounts at multiple locations as the firm cracks down on password sharing.
The US streaming giant will ask viewers to pay an additional charge if the account is used in more than one “home”, requiring people to scan devices to track account activity.
For any account usage, users will need to fork out $2.99 for new users and adds to the growing set of action taken by the company to claw back user growth.
Last week Netflix announced a fresh partnership with Microsoft to introduce a “lower priced ad-supported subscription plan” to drive down prices and act as an “addition” to the existing plans.
the company’s chief operating officer Greg Peters said that the long-term goal was clear for Netflix: “More choice for consumers and a premium, better-than-linear TV brand experience for advertisers”.
All eyes will also be on Netflix tonight as it gears up to announce its second quarter results following hefty losses back in April.
The firm said subscribers were down 200,000 and predicted a further two million losses would be seen in the coming months
Not only did this cause the share price to plunge, wiping $40bn off its market value, but it has also put immense pressure on today’s results.