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According to the New Co-chief, Netflix Members Won’t Be Able to Exchange Passwords

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After more than 20 years as CEO of Netflix Inc., co-founder Reed Hastings stands down; he is succeeded by Greg Peters and Ted Sarandos, both of whom he worked with for a long time. They have recently released information regarding the company’s future, which includes a plan to outlaw password sharing in numerous nations.

The majority of Netflix users who use the service but do not pay for it will soon be required to do so, according to Peters, the new co-CEO. He said, “The regulated password sharing will be introduced gradually, so the video streaming platform would not degrade the user experience even after it becomes adopted,” in an interview with Bloomberg.

He anticipated that not everyone would like the event and that the business would have to cope with some upset clients. The company intends to concentrate on developing nations like India as it increases its subscriber base by 15 to 20 million, according to the CEOs.

In November, Netflix introduced a new tier that is supported by advertising. The performance of the ad tier has been uneven; in its first month, it was Netflix’s least well-liked plan. On the other hand, the introduction of the new tier led to a spike in new sign-ups on the first day and a rise in the percentage of December Netflix sign-ups.

In addition to saying that the advertising tier has drawn in new, budget-conscious users, Netflix expressed pleasure with its progress. According to Bloomberg, the majority of users who select the advertising tier are brand-new users rather than those who are migrating from a more expensive plan.

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