Mar, 2021 - By WMR
Online streaming major, Netflix has planned to crack down the password-sharing done by its users, which has been affecting the business of this digital platform.
On March 16, 2021, the American video-streaming giant, Netflix had revealed the resolution to restrict the password-sharing activity among its users that has declined the company’s profit by 20 to 30 percent in the previous financial year. A spokesperson of Netflix revealed that the company is considering to add an extra layer of security for its subscribers with a 2F (Two-factor) authentication which is still in the testing stage. This 2F authentication security system requires two different types of identification to get the access. Normally, the first factor in this system is the ‘password’ and the second factor can be a ‘text code’ on the device/email or a ‘biometric.’
Generally, the users of Netflix share the password of their accounts with several people who do not have account on this platform. Laterally, this situation creates a confusion for the user as well as for the company, which increases the risk of counterfeit activities. Accounting to this type of incidences, Netflix has sent notification to its streaming users quoting, “You require personal account to continue watching, if you don’t live with the owner of this account.”
However, the new authentication process introduced by Netflix will terminate the security problems associated with unofficial sharing of passwords and give its users the information of other people who are using their account.
The streaming giant has grown phenomenally since the outbreak of COVID-19 virus as people around the world were mandated to stay indoors, and the Netflix became a major mode of indoor-entertainment globally. Owing to its vast collection of content such as web series, movies, as well as pre-recorded concerts, this digital platform has attained over 200 million subscribers across the globe as of January 2021.