Netflix to crack down on password sharing in early 2023

Popular streaming service Netflix intends to ban password sharing beginning early 2023. Although there have been rumors that password sharing is dead and Netflix is looking at ways to stop it, the changes were scheduled to take effect in 2019.
Although Netflix has long been aware that password sharing affects its bottom line, a rise in subscriptions in 2020 has prompted the corporation to fix the issue. Netflix CEO, Reed Hastings, declared it was time to take action after seeing a decline in revenue this year and losing subscribers in ten years.
Netflix plans to begin asking people who share accounts with others outside of their household to pay to do so in 2023. It has been testing add-on payments for password sharing in some Latin American countries, charging around $3 extra. Anyone outside the household who wants to access the account must provide a verification code, with Netflix repeatedly asking for the code until a monthly fee is paid.
In the US, a similar strategy might be used, with Netflix possibly charging non-household users who pay a price slightly less than that of its $6.99 ad-supported plan. Anyone who uses a shared password on Netflix should go for a separate membership.
Netflix will enforce password-sharing rules through IP addresses, device IDs, and account activity. To avoid the risk of alienating customers, Netflix may slowly phase out password sharing rather than putting a stop to it all at once.