The days of sharing a Netflix account at no additional cost are coming to an end.
Netflix shared its plans in a letter to shareholders on Tuesday of monetizing account sharing and it is planning to roll out the changes in early 2023.
[TRENDING: Day care workers charged, accused of scaring toddlers with Halloween mask | Friends shocked by death of Lake County pilot in South Florida plane crash | Become a News 6 Insider]
The company said any current account sharers who would like their own account will have the opportunity to transfer their current profile. For people sharing an account, there will be an ability to create sub-accounts (”extra member”) if they want to pay for family and friends, the company said.
In addition to this change, Netflix is introducing an ad-supported subscription plan that is cheaper than its current starting price in November for 12 countries, including the U.S.
The company said in the U.S., the basic plan with ads would start at $6.99 and have about 5 minutes of advertisements per hour.
“The reaction from advertisers so far has been extremely positive and we believe that more choice, especially for more price conscious consumers, will translate into meaningful incremental revenue and operating profit over time,” Netflix said.
The ad-supported plans will begin rolling out in the U.S. on Nov. 3.
You can listen to every episode of Florida’s Fourth Estate in the media player below: