Netflix cracking down on password sharing restrictions

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Netflix cracking down on password sharing restrictions

Users in Canada, New Zealand, Portugal and Spain will be able to use their password sharing restrictions, according to Netflix Inc.

What Happened: Users in the four countries will need to set a primary location for their account in order to be able to access their Netflix account.

Netflix said its members would still be able to watch Netflix on their personal devices, or log into a new TV at a hotel or a holiday rental when they travel.

In a statement, the company said that its Standard and Premium members in four countries and other geographies can add an extra sub-account for up to two people they don't live with for an extra CAD $7.99 per month in Canada, NZD $7.99 in New Zealand and EUR 3.99 in Portugal and EUR 5.99 in Spain.

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According to Netflix's Director of Product Innovation, Chengyi Long, "Why It Matters: Today, over 100 million households are sharing accounts affecting our ability to invest in great new TV and films.

The company s previous announcement about a password-sharing crackdown caused a lot of uproar. In its earnings report last month, Netflix said it planned to enforce the measure more broadly. Price Action: On Wednesday, Netflix shares were 1.1% higher at $366.83 in the regular session and rose 0.7% in the after-hours trading, according to Benzinga Pro data.