Netflix announces US password-sharing crackdown

Netflix stated Tuesday that it will email U.S. users who share account information outside of their households.

A Netflix account is for use by one household," the streaming company noted in a blog post.

The website says account holders of standard or premium accounts, which cost $15.50 to $20 per month, can share their password with others for $7.99 per month.

Netflix announced during its first quarter earnings call in April that it would stop sharing passwords in the U.S. and other countries by June.

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Transfer Profile and Manage Access and Devices will allow households to enjoy entertainment "at home, on the go, and on holiday," the business stated.

After a decade-long decrease in subscribers and increased competition, the streaming behemoth cracked down on password sharing last year.

"This is an important transition for us, and so we're working hard to make sure that we do it well and as thoughtfully as we can," Netflix CEO Gregory Peters said in April's earnings call.

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