Netflixs Paid Password Sharing Will Drive Growth For Years To Come, Promises CoCEO Greg Peters Deadline
News Source : Deadline
News Summary
- By Jill Goldsmith Co-Business Editor Netflix’ crackdown on password sharing, or as the streamer calls it a focus on “paid sharing,” will drive growth for years to come, said the streamer’s co-CEO, addressing a Wall Street concern that benefits may top out this year..
- “Our paid sharing work, and our ads work, creates a more effective engine to translate all [Netflix] value into revenue growth, and will support increased conversion of our addressable market in many years to come,” promised Greg Peters on the fourth-quarter earnings video call..
- Paid sharing and to a lesser extend a new advertising tier are helping the company re-cement its lead over streaming rivals in a landscape that got very messy post-Covid and is still challenging even for the pioneer..
- In its letter to shareholders this afternoon, the company said, “We believe we’ve successfully addressed account sharing, ensuring that when people enjoy Netflix they pay for the service too..
- That engine, he stressed, “works on top of very healthy organic growth” driven by content including TV series and movies, games, and now live events following a long-term deal with WWE announced earlier today..
- Netflix launched paid sharing in the U.S. in the second quarter of 2023 having successfully tested it in Canada, New Zealand, Spain and Portugal..
Netflix crackdown on password sharing, or as the streamer calls it a focus on paid sharing, will drive growth for years to come, said the streamers coCEO, addressing a Wall Street concern that b [+2165 chars]