As rumored earlier, Streaming giant Netflix is planning to put an end to its password sharing feature by the start of 2023.
Netflix Banns Password Sharing
Considering this latest move, Streaming giant Netflix is planning to put an end to its password sharing feature in early 2023.
It appears that those rumors about the end of password sharing are about to come true as the changes are set to officially go into effect next year, as per the reports.
In the meantime, Netflix announced its plan to build a state-of-the-art production facility at a former Army base at the Jersey Shore.
This project is most likely to cost more than $900 million, and expected to create thousands of jobs in the economy.
To start with, the subscription video streaming company is set to pay $55 million for a 292-acre site on the former Fort Monmouth military base in Eatontown and Oceanport.
Besides this, the California-based company plans an additional $848 million worth of investments in 12 sound stages and for other uses related to the film industry.
The company’s co-CEO and chief content officer, Ted Sarandos said, “We’re thrilled to continue and expand our significant investment in New Jersey and North America,”.
“We believe a Netflix studio can boost the local and state economy with thousands of new jobs and billions in economic output, while sparking a vibrant production ecosystem in New Jersey,” he added.
Why Would This Happen?
According to a,
As we know, Netflix is all set to officially stop password sharing from early 2023 as reported by MacRumors.
According to the video streaming company, sharing of passwords leaves an adverse impact on the business but did not take any action as of now.
But now, considering the downfall in revenue, the company CEO Reed Hastings is likely to take a call.
The Netflix might ask users who share accounts with others outside of their household to pay for the subscription, the report further suggested.
It all started when Netflix had announced a new feature for its users.
This is known as Profile Transfer feature, it allows people using your others’ Netflix account to transfer their profile data like personalized recommendations, viewing history, My List, saved games, and other settings.
So now, if you do not have a Netflix membership, but are currently watching Netflix content via a profile on someone else’s account then you will be able to carry your Netflix data when you start your own membership.
