Netflix (NFLX) shares fell as users took to social media to protest the streaming giant’s decision to forbid viewers from using passwords from households to which they don't belong.
Netflix is allowing viewers living in the same household to share an account.
But reports say that Netflix is sending some users a message asking them to confirm that they live with the account owners. The recipients do so by entering details from a text message or email sent to the account owners.
“This test is designed to help ensure that people using Netflix accounts are authorized to do so,” a Netflix spokesperson told Reuters.
Here's a sample of the reactions from some Reddit users:
· “Whats the point to this? Netflix is still getting money. S--t tons of money. It’s not like every account is home to hundreds of people all sharing it, because that’s already impossible to do.”
· “Fine. I don’t need you anyway.”
· “Yep, Netflix has sucked hard in the last few months, if they start breaking my b--ls I'm going to switch to some other service which in time will be equally lame.”
· “Billions of dollars a year isn't enough for them. They need to squeeze families more.”
And on Twitter, users vented:
· “#netflix is getting greedy! no more PW sharing?? that was the best feature! i shall unsubscribe immediately. Netflix cracks down on users who share passwords after hiking fees.”
· “Just saying. If @netflix cracks down on password sharing, Im canceling and theyll get no money from all of us.”
· “No more bootlegging and sharing? This is anti-trust, a monopoly against the people! Didn’t President Biden talk about unity last night Rolling on the floor laughing Com’on man you can’t do me this way! Peeple unite!”
· “This is seriously stupid, Netflix has billions, no amount of password sharing could stop them.”
Netflix recently traded at $511.37, down 2.2%.