Why Netflix's Profile Transfer is the Best Thing It Has Done All Year
Everyone and their mother has a Netflix (NFLX) - Get Free Report account--well, everyone has a Netflix account and they let their mother share their password. In the modern era, sharing your digital passwords is a sign of committed bonding; platonic, familial, or otherwise. And thanks to the streaming service's customization features, it's no wonder that sharing a Netflix account with your ancient ex-partner has become a cliche.
During the covid-19 pandemic, streaming services saw a boom in subscribers--and subscribers saw a boom in potential streaming services. Warner Brothers, now Warner Brothers Discovery (WBD) - Get Free Report, brought HBO Max to the scene, while Disney (DIS) - Get Free Report launched Disney Plus. Like Netflix, both streamers featured service-exclusive original content, an innovation that Netflix pioneered with its breakout show "House of Cards" in 2013.
Now, with an overabundance of content to choose from (and so many services to pay for), paying the minimum for all of the essential streaming services is hardly more affordable than a traditional cable package. And in a newly-saturated and competitive streaming market, Netflix has lost its position as the service everyone needs to have.
The network of former partners, pals, and assorted family sharing passwords has been an issue that Netflix has been threatening to tackle for some time now. This week, the company has enacted some restructured pricing, including an ad-supported tier for $6.99/month (compared to the least-expensive subscription cost $9.99/month). The service launches November 3rd, and is the first of a few new structuring policies the company will be bringing into 2023.
Netflix Begins Password Sharing Crackdown, Shared Accounts Can Now Branch Off
Beginning this week, Netflix subscribers received emails offering the option to transfer profiles to new accounts. Under the "Account Settings" section of your profile, there is now a new "transfer this profile" feature. This allows you to start your own Netflix account at your chosen monthly tier without losing any of your watchlist, likes, or settings.
While some online have speculated that the streaming service is asking password-sharers to "tell on themselves," it's a shift that shouldn't be taking anyone by surprise. The general assumption is that no one who willingly shared a password with a friend, family member, or partner would want to transfer their service. But Netflix could actually see a boost in subscriptions thanks to this new innovation.
The Future of Streaming & Password Sharing
In the modern age, sharing your passwords is a symbol of devotion. It's not quite as big a step as adopting a puppy, but merging your streaming accounts is a pretty big commitment. After all, if you break up or sever ties with this person, you'll lose all of the precious entertainment data you've built on your favorite binge-watch apps.
This gets especially tricky when it comes to romantic partners. A surveyed 23% of password-sharers share with an ex-partner. For many people, "transfer this profile" means they can finally cut those last ties to their old flame.
Netflix's Q3 earnings report boasted an impressive 2.41 million paid subscribers added over the last quarter. And that's before the launch of an ad-based tier that, regardless of criticism, will make Netflix's original content more accessible to those tightening purse strings due to inflation.
This move may be controversial, but it will no doubt push several people's exes to finally get their own Netflix account. That boost in subscribers could be significant--as could the use of the ad-based tier. Anyone cancelling a Netflix subscription in protest will probably just renew it again when "Stranger Things 5" comes out.
This story has been updated to correct the lowest priced tier at Netflix.
