The most widely used OTT platform is Netflix. The cost of a subscription used to be quite high. However, the subscription plan was made more affordable and received other benefits last year. More and more people joined the OTT platform as a result of the affordable plan. However, it did not benefit as much as Netflix anticipated because of password sharing. However, Netflix has also worked this out. The business is now introducing a premium password-sharing tool. Due to this feature, disclosing the password on the platform will result in a charge to the account.
When does it begin?
Before June 2023, Netflix’s paid password-sharing feature will launch. This is due to the fact that in the first quarter, its membership hit a record high of 232.5 million.
What did the business state?
According to Netflix, the Paid Password-Sharing Feature is anticipated to launch this quarter and last until June 2023. Members who wish to access it on more than one account must pay an extra membership charge under a pay password sharing system. We think that this will result in better outcomes for both our members and our business, according to Netflix. A new membership that is supported by advertisements is still in its early stages. Additionally, Netflix stated that there haven’t been many people abandoning their “Standard and Premium plans.”
This year, Netflix will gain significantly.
Insider Intelligence, a market researcher, estimates that the OTT platform will earn $770 million in advertising income from this new tier this year and $10 billion next. Due to a slowdown in membership growth last year, Netflix concentrated on developing a low-cost subscription tier with advertising.
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