Netflix will not allow password-sharing beginning early 2023

(KION-TV)- Netflix will begin its password-sharing crackdown early next year, according to the company.

This is after Netflix’s announcement last week that the company will offer a cheaper $6.99 option with ads.

In April, Netflix reported its first loss of subscribers in more than a decade. Executives blamed increased competition and password sharing for the loss.

The company said it has landed on a “thoughtful approach” and announced that those benefiting from sharing would have the ability to transfer their profiles into their own new accounts.

Also, subscribers can create sub-accounts “if they want to pay for family or friends.” Price points surrounding both ideas are not known at this time.

“In countries with our lower-priced ad-supported plan, we expect the profile transfer option for borrowers to be especially popular,” Netflix said.

Netflix’s upcoming ad option will be its fourth — joining its basic, standard, and premium plans.