Netflix lost $54 billion overnight in 2022, and to recoup its losses, it will finally crack down on password sharing in 2023.

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Netflix first quarter result

When Netflix released its first-quarter report for 2022 in April and the realization set in that it had lost all those billions, sources first suggested that the great password-sharing crackdown was likely on the horizon.

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Netflix October shareholder

Then, it was revealed in an October shareholder report that Netflix would formally begin charging for password-sharing in early 2023.

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Netflix CEO Ted addresses password sharing

The password-sharing shift has been further addressed by Netflix CEO Ted Sarandos, who acknowledged it to investors this month.

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Count on borrowed passwords

Over 100 million Netflix users currently use borrowed passwords to access the site, claims Netflix.

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Netflix monitors account activity

To reduce password sharing, the business has stated that it will monitor things like account activity, IP addresses, and device IDs.

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Netflix subscription plans

Netflix has a new subscription of $6.99 ad-supported launched in November, with a basic subscription of $9.99, a standard plan of $15.49, and a premium plan of $19.99.

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