Co-CEO Greg Peters said the initial verdict is in on paid password sharing — a risky but multi-billion-dollar initiative for the company — and it is positive.
“We’re seeing that it’s working,” the exec said, noting that the scheme, developed after a year-and-a-half of internal deliberation and development, has now been rolled out virtually worldwide. Revenue and subscription levels have increased across all global regions, Peters noted during the company’sinterview, indicating that customers have largely remained loyal during the shift. The key to keeping people in the fold, Peters said, has been balancing “user considerations” like the ability to preserve existing account profiles with “making sure Netflix is able to get reasonably paid when we deliver entertainment to someone.