There is a growing trend that is causing some concerns with the big wigs at Netflix and other streaming services. It is something that you may be doing right now at your house.
According to a CNBC article, millions of people are not paying for streaming services like Netflix, Amazon and Hulu. How are they not paying? They are able to login by using another password that someone has given to them. It is a common practice that has gained popularity among younger people.
A survey showed that 35% of Millennials will use a shared password to access shows, movies and live events. That is in comparison to just 19% of Gen X’ers and 13% of Baby Boomers. Where are the younger adults getting access to the passwords? Their parents. Some people compare the sharing of a password to a multi-line cell phone plan. Everyone gets to share it. But, is it the right thing to do?
When you see that companies like Hulu have lost over a billion dollars, maybe password sharing is not the right thing to do. Some services have tried to limit the use of passwords by having you give your zip code and then only be able to use the service in that area. Then there are some people who say that as long as their is advertising, why does it matter who pays for it or not.
What are your thoughts?
