NEW YORK (Nexstar Media) – Netflix is looking to crack down on sharing account passwords in the future.
The streaming service announced the plans during a quarterly earnings call. Netflix’s product chief Greg Peters says the company is aware users share their information.
Netflix currently limits the number of devices that can stream from one account.
Nearly 10% of Netflix users don’t pay for their accounts, according to a survey conducted by CNBC. Of that number, about 35% of Millennials share passwords — that’s compared to 19% of Generation X, and 13% of Baby Boomers.
Magid reveals that of Netflix’s 137 million customers, 13.7 million are not paying the monthly subscription, which equals about $135 million in missed sales for Netflix each month.
Netflix currently has three different plans: $8.99 for the basic plan, $12.99 for the standard plan and $15.99 for the premium plan.