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To crack down on the practice of password sharing, Netflix will start putting an end to the arrangement early in 2023. The company will ask people who share accounts to pay for it, a report by The Wall Street Journal (WSJ) said.
Over 100 million Netflix viewers use the service without paying for it, the report added. In total it has 223 million subscribers and a market cap of $128 billion. Analysis by Cowen Inc estimated that the step could generate additional revenue of $721 million in 2023 from the US and Canada alone.
The company, according to the report, were aiming to put an end to the practice in 2019 but the Covid lockdown brought new subscribers, making up for the fall in revenue.
