netflix profile transfer feature

Netflix announced yesterday that it will be launching a new feature called “Profile Transfer” that will allow people to move their profiles from one account to another in case they are no longer affiliated with the owner.

“Today, we’re launching Profile Transfer, a feature that lets people using your account transfer a profile — keeping the personalized recommendations, viewing history, My List, saved games, and other settings — when they start their own membership”.

Profile Transfer would work for people who are no longer a couple or for newlyweds who would like to set up a new account instead of using that of their parents. This option will allow them to make the transition without losing their valuable profile data. An e-mail will be sent to users once the feature goes live.

Netflix Keeps Working to Monetize Password Sharing

This new option can be considered the latest effort from Netflix to discourage password sharing. In its Q2 2022 earnings report, Netflix stated that it was in the “early stages” of working to monetize the more than 100 million households that have been using other people’s accounts to enjoy the service.

In Latin America specifically, the video streaming platform has launched two initiatives to progressively crack down on this phenomenon. The first is called “add extra member” – a program that charges a fee for adding new people to an account. This option is available in Chile, Costa Rica, and Peru only.

Meanwhile, in Argentina, the Dominican Republic, El Salvador, Guatemala, and Honduras, Netflix (NFLX) launched an “add a home” option that allows an account to be used in more than one location by paying an extra $2.99 per month. Depending on which subscription package the user opts to sign-up for, they will be able to add from one to three homes without additional charge.

Cracking down on password sharing could radically change Netflix’s subscriber growth trajectory as long as the strategy they implement works as intended. The Los Gatos-based streaming giant has lost roughly 1.17 million subscribers in the past two quarters but it is forecasting that it will add 1 million new users to the platform during the third quarter of the year.

What could be the beginning of a recessionary cycle in multiple developed economies is considered the reason for Netflix’s latest poor performance in terms of user growth. In addition, competition in the streaming space has been heating up with consumers now having multiple services to choose from but not enough money – or willingness – to sign-up with all of them.

Can an Ad-Supported Subscription Solve Netflix’s Problems?

Just a few days ago, Netflix launched a new subscription called “Basic with Ads” that will allow users to enjoy the platform by paying $6.99 per month – roughly 30% less than the cost of the Basic monthly subscription.

This was the latest measure from the company founded by Reed Hastings to keep attracting users to the platform at a point when inflation is digging a hole in consumers’ pockets across the world.

The new subscription tier will be officially launched on 1 November in 12 different countries and will support one compatible device at a time.

Netflix has signed an agreement with Microsoft (MSFT) to commercialize the platform’s adverts. This marketing solution will be similar to that of social media platforms like Facebook that allow companies to define several parameters such as the characteristics of the audience they would like to reach and how much they will be spending.

The streaming company will be announcing its financial results covering the third quarter of the 2022 fiscal year today at 1 p.m. Pacific Time. Investors and analysts are probably expecting an in-depth discussion of how these latest actions from Netflix could affect the firm’s top-line performance and will be eagerly awaiting to see if the firm’s subscriber base has kept suffering or if the tide is already changing.

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