The Password-Sharing Problem That's Costing Netflix Millions
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For a whole generation of online consumers, the practice of sharing the passwords of their favorite subscription-based services -- Netflix (NASDAQ: NFLX), Spotify, Apple Music, and so on -- seems both harmless and inevitable. After all, is it really that different than lending someone a book or letting them borrow your car?
As recently as three years ago, Netflix CEO Reed Hastings seemed not to think so. He said that password sharing "hasn't been a problem" and may even have been a major incentive for fresh customers. However, new research indicates that the issue is growing, and in some cases becoming more absurd. Business news site CNBC recently reported on a series of Netflix consumers who admitted to using the login details of ex-partners and even of one-night stands from years earlier. The bills that streaming services are racking up as a result of this type of behavior might prompt a change in policy across the board.
Source Fool.com
