Netflix lays out plans to crack down on account sharing

(Corrects syntax in headline and paragraph 1)

(Reuters) - Netflix Inc on Wednesday laid out plans to crack down on password sharing for accounts on its streaming platform, including setting up primary location and paying a couple of dollars for an extra member.

The video-streaming giant, which has estimated that 100 million around the world use a shared account, said that members can now easily manage who has access to their account, transfer profile to a new account and still easily watch Netflix on their personal devices or log into a new TV.

"So over the last year, we've been exploring different approaches to address this issue in Latin America, and we're now ready to roll them out more broadly in the coming months, starting today in Canada, New Zealand, Portugal and Spain," the company said in a blogpost.

Members on Netflix's standard or premium plan in many countries can add an extra member sub account for up to two people for an extra C$7.99 a month per person in Canada, NZD$7.99 in New Zealand, 3.99 euros in Portugal, and 5.99 euros in Spain, the company said.

The company lost subscribers in the first half of 2022 amidst stiff competition from rivals, prompting it to look more seriously into password sharing and launching an ad-supported plan.

(This story has been refiled to correct the syntax in the headline and in paragraph 1)

(Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber)