ATLANTA (CBS46) – Netflix may be ready to crack down on its own users as the streaming heavyweight prepares to face an onslaught of strong competitors in the coming months.
According to Newsweek, Netflix chief product officer Greg Peters said the company is looking at ways to limit password sharing. This would be a major shift for Netflix as currently, multiple users can share one account by having different profiles.
Many families share Netflix premium accounts that allow viewing on two screens at once, but Netflix said those accounts are intended to be in the same home.
Netflix is under increasing pressure from Wall Street investors. The stock reached a high of $385 in May, before crashing to $254 a share in late September. The company is planning to raise more money just as it loses a lot of content to competitors like Disney+.