Netflix and HBO streaming services are losing big money on people swapping passwords for their accounts. Now the streaming giants will stop the practice.
Several major streaming services and TV channels are now teaming up to end people sharing passwords and lending their accounts to each other, writes TV 2.
It was Bloomberg who first wrote about the case, and according to the news agency, the pay-TV industry will lose $6.6 billion, about NOK 60 billion, in revenue due to password sharing and piracy this year.
It is expected that revenue loss could grow to over $9 billion by 2024. The companies are therefore looking for new methods to close the loopholes that allow for password sharing.
One solution might be to require customers to change their passwords regularly, or to receive codes sent on their mobile to continue viewing the content of the various streaming services.
Should this not be enough to limit password scrounging, streaming services are considering requiring login via fingerprint.
© NTB Scanpix / #Norway Today