New Delhi, Business Desk – In a significant move aimed at boosting its revenue, Netflix, the popular OTT platform, has introduced a policy that restricts account usage to a single family.
This decision is set to impact a large number of users who have been sharing their Netflix account passwords with others.
The Reason behind the Decision
Earlier this year, Netflix revealed that over 100 million of its users worldwide engage in account sharing.
This practice has adversely affected the company’s ability to produce new and diverse TV shows and movies.
Strategies to Increase Revenue
Netflix has been actively exploring avenues to augment its revenue. Recently, the company introduced a plan in select countries.
where users could include additional individuals by paying an extra fee. This plan, initially available in a few regions, has now been extended to over 100 countries.
Last year, Netflix experienced a slowdown in growth, partially due to password sharing among its user base.
Current Number of Netflix Users
In April, Netflix reported a surge in its subscriber count, reaching 232.5 million during the first quarter of this year.
Additionally, the company introduced an ad-based subscription model, which has garnered approximately 5 million users.
The response to this ad-based subscription has been highly encouraging, as highlighted in the company’s investor presentation.
Netflix offers monthly subscription plans and does not provide an annual subscription option. The mobile plan is priced at Rs 149, while the basic monthly plan costs Rs 199.
The standard monthly plan is available for Rs 499, and the premium monthly plan is priced at Rs 649.
The mobile-only plan caters specifically to smartphone users, allowing streaming on a single screen at a time.
The basic plan permits streaming on all devices but restricts usage to one device at a time.
As for the premium plan, users can enjoy streaming in up to 4K resolution on four devices simultaneously.