Well, the time has come for everyone to get their own Netflix account. Your subscription is about to increase next year.
The streaming giant announced earlier this week that it would begin charging for account sharing by early next year. Netflix sent out a letter to shareholders saying the company intends to launch “extra member” sub-accounts in 2023, which will require users to pay an additional fee for friends and family members accessing their account, Business Insider reported.
While Netflix hasn’t confirmed what the extra member fees would be in the US, it is likely to follow a beta model that already exists in select Central and South American countries, where a Netflix sub-account costs $2.99.
The decision comes after other streaming companies have started identifying ways to prevent and limit password sharing. Prior to Discovery’s acquisition of HBO Max earlier this year, former owner AT&T announced it had begun flagging “rampant abuse” of sharing passwords across multiple households.
A survey conducted by Leichtman Research in March estimated one-third of US Netflix subscribers shares their log-ins. The new policy could help the company increase revenue, which has had a tumultuous year.