New Delhi (India), 14th May 2023: Streaming behemoth Netflix is reportedly cutting $300 million from its expenses this year, including the budget for employment.
A new Wall Street Journal article states that, one of the reasons for the budget drop is that Netflix postponed its efforts to crack down on password sharing from the first to the second quarter of this year.
According to the article, this means that the money Netflix projected from the relocation has been transferred to the second half of the year.
Earlier this year, the streaming service began cracking down on password sharing in Canada, New Zealand, Portugal, and Spain. This summer, Netflix will finally tighten down on password sharing in the United States.
Netflix had planned to launch “paid sharing” in the United States during the first quarter of this year.The feature will now be available on or before June 30. It will allow up to two additional users per account, and the charge per additional user varies by country.
Members can access the sharing plans through Standard ($15.49 per month) and Premium ($19.99 per month) subscriptions. Last November, the company introduced a new ad-supported package dubbed Basic with Ads. The monthly fee for this tier is $6.99.
Netflix is also improving the streaming quality and concurrent streams of its ad-supported plan.
