- Netflix is accelerating plans to roll out ad-supported plans and password sharing blocks.
- The company may be planning to unveil the changes in late 2022.
Netflix is reportedly moving faster than expected with its plans to introduce ads and block passwords on the heels of its first subscriber drop in a decade.
Netflix has been looking for ways to continue growing and driving profits, despite significant competition from the likes of Amazon Prime, Hulu, Apple TV Plus, Disney Plus, Paramount Plus, and others. Its latest efforts involve introducing a cheaper ad-supported plan, as well as cracking down on password sharing. Despite evidence those measures were still a year or two away, a new report says Netflix may implement them as early as late 2022.
Netflix has raised prices a number of times over the years but has managed to continue growing. In its last quarterly report, however, the company lost some 200,000 subscribers, its first drop in more than a decade.
The drop has prompted Netflix to reevaluate its entire model, including testing methods to prevent password sharing. The company is looking to roll out new plans that would charge $2 or $3 more for sharing passwords with friends or family outside the home.
If the Times report is correct, it appears customers will have to adjust to these new changes sooner rather than later.