The entertainment company estimates there are now 100 million households using someone else's account. Last month, it announced plans to start charging for password sharing.
Netflix says stronger competition, the Ukraine-Russia conflict and password sharing contributed to its first drop in customers in a decade.
In a letter to shareholders, the entertainment company said it relied on password sharing within households to fuel growth early on, but that in addition to its 222 million paying subscribers, there are now an estimated 100 million households using someone else's account. The company said it sees the popularity of password sharing as an opportunity to convert more viewers into paying customers.
Last month, Netflix said it won't ban password sharing, but it plans to start charging for it. It will be testing the change in three countries: Chile, Costa Rica and Peru. For 2,380 Chilean pesos, 2.99 U.S. dollars and 7.9 Peruvian sol, respectively, users can add up to two profiles.It will take about a year to run the tests and begin enforcing the change, which will eventually make its way to the U.S. market, Peters said Tuesday.
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