The more than hundred million people who share Netflix passwords to access the streaming giant’s entertainment offerings will slowly be forced to pay for their own accounts, confirmed Netflix co-CEO Greg Peters in a Bloomberg interview on January 22.
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Mr. Peters said that the company was taking a “graduated approach” so that most of those who watch Netflix for free will have to pay for it. He acknowledged that the decision would not be “universally popular” and admitted that it would upset some customers.
However, the co-CEO added that he was confident of winning back most password-borrowers by releasing popular and quality content on the platform every week. He cited examples such as the TV show Wednesdayand the movie Glass Onion.
He further expressed faith in Neflix’s “basic with ads” tier to draw in more price-sensitive customers.
When asked about ad-supported free television, co-CEO Ted Sarandos warned people not to expect an update this year.