Disney has also recently announced it's adding Hulu content to Disney+. Paramount Global also announced this week that its Paramount+ with the Showtime combined app would be available in late June. Discovery relaunched its streaming service as Max, which is a combination of the HBO Max and Discovery+ services. Media companies across the board have been looking for ways to make their streaming plays profitable, leaning on methods such as content cost-cutting, advertising and finding other ways to attract more customers to their platforms. Both measures have come in response shortly after Netflix reported its first subscriber loss in more than a decade in early 2022. In addition to its crackdown on password sharing, Netflix also recently introduced a cheaper, ad-supported tier in an effort to boost revenue. Netflix executives have likened the paid-sharing transition to that of price increases: people initially balk and cancel, then slowly return and sign up for their own accounts. As a result, the company has seen more revenue, the execs said. But they found those password borrowers would later activate their own accounts and add existing members as "extra member" accounts. In Latin America, Netflix executives said it saw cancellations after the news was announced, affecting near-term growth. But Netflix still managed to add 1.75 million customers during the quarter. The company said it had seen its subscriber growth affected internationally where it had rolled out such initiatives during the first quarter. households, and rather gave the two options of either transferring a profile or paying a fee for an extra member. In Tuesday's notice, the company didn't provide such specifics for U.S. Read more: Netflix's expected password-sharing crackdown puts college students on edge Netflix said it would ask members in those countries to set a "primary location" for their accounts, and allow users to establish two sub accounts for those who don't live in their home base for extra fees. Netflix said this has affected its ability to invest in new content.Įarlier this year, Netflix outlined password-sharing guidance in four other countries: New Zealand, Canada, Portugal and Spain. The streamer has said than more than 100 million households share accounts, which is about 43% of its global user base. Originally, Netflix was expected to roll out its crackdown on people who borrow other accounts to create their own profiles late in the first quarter, but alerted investors and customers during an earnings call last month that it was pushing the move until the second quarter. Personal Loans for 670 Credit Score or Lower favorite shows and movies on streaming apps like Netflix, HBO Max, Disney+ and Hulu. Personal Loans for 580 Credit Score or Lower Convert your home movies, film reels and photos to digital format. Best Debt Consolidation Loans for Bad Credit
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