Netflix will no longer let you share your passwords for free

Netflix (NASDAQ:NFLX) is changing its policy on password sharing and will start charging for account sharing. Currently, a Netflix account holder can add up to five profiles to their account. These profiles will become paid sub-accounts starting in early 2023.

Netflix will now only allow one "home" per account, and additional homes will have to pay extra to use the same account, the company announced this week. You can still use your account when you're outside your physical home (on your tablet, laptop or phone), but technically there will only be one account to which you can add sub-accounts. The streaming platform has already implemented this model in Argentina, the Dominican Republic, Honduras, El Salvador and Guatemala. Customers in these countries pay an extra $2.99 a month to add additional homes to their account. Netflix has not indicated whether the cost will be the same for the US. Netflix will begin rolling out these features more broadly in early 2023. Members with basic plans can add one extra home, standard plans can add two extra homes, and premium plans can add three extra homes. People who borrow someone else's Netflix password can transfer that Netflix profile to a new account. This means they will see their viewing history and recommendations on their new account. COO and Chief Product Officer Gregory Peters said during the Netflix earnings call on Tuesday that there are a few different uses for profile transfer. "There are situations where you can imagine you have a child at home and they become an adult and get their own account, and it supports those situations," Peters said. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!