“The divorce is final. Cancel #Netflix.”
It’s just one of the social media posts that have been making the rounds since Netflix officially announced it was here this week take action against the disclosure of passwords between households in the US
What’s new? Rules for sharing Netflix passwords?
Subscribers received an email from Netflix this week warning “Your Netflix account is for you and the people you live with – your household.”
Now you need to either transfer your friends and family’s profiles to a new paid membership or shell out $8 a month to keep sharing your account with them.
The popular streaming service used to encourage sharing Netflix credentials with friends and extended family. But it has changed its tune as subscriber growth slowed due to increased competition and a return to pre-pandemic viewing habits. Now it’s a matter of squeezing a few more euros out of free riders.
Netflix users are threatening to terminate their Netflix accounts
The ultimatum is not well received. Subscribers have used social media threaten to cancel their subscriptions.
Shame on you Netflix, wrote one person. “Isn’t it bad enough that the cost of living is skyrocketing? Grocery, rent, gas, etc. Don’t you have enough?”
Another accused Netflix of corporate greed.
“Let me process this. “Netflix will not pay their writers appropriately and are now demanding extra money for a feature they once openly advertised and encouraged,” wrote the disgruntled Netflix subscriber, referring to the Hollywood writers’ strike.
Is Netflix Losing Subscribers?
It could just be social media talk. According to Jason Helfstein, head of internet research at Oppenheimer, the trend behind the roar is in favor of Netflix.
A recent survey conducted by the company found that about 80% of respondents pay for Netflix and 48% share their password with people outside of their household. Almost half — 45% — said they would be willing to shell out an additional $8 per month.
Netflix’s crackdown on password sharing could add 36 million new subscribers to the streaming service, Helfstein said in a research note.
How to cancel your Netflix account
If you’re ready to say goodbye to Netflix, you’ve come to the right place.
From the Netflix home page, click the arrow next to the profile icon on the far right.
Click Cancel Membership.
Click Complete Cancellation.