Netflix is concerned about password sharing - and they've threatened to shut it down.
The newest LendingTree study finds that 38% of Americans use someone else’s login to access a streaming service, the same percentage as in early 2021. However, if they lose access to their favorite subscription, 45% of those consumers don’t plan to purchase the service.
"That's a worrisome I would think for streaming services," says Matt Schulz from Lending Tree. "Because they end up running the risk of reducing the number of users, even if they do end up making more money off of them."
LendingTree also found people are paying more than last year for streaming services. About 40% of people who have streaming services say they pay $50 or more a month for those services.
"That's up from about 25% from last year," Schulz says. "That is not too surprising. We've certainly seen interest in streaming services grow during the pandemic. But also because there are just more choices and more streaming services putting out interesting content."
The most popular streaming service is Netflix. 68% of streamers say they have a Netflix subscription, followed by Amazon Prime Video (67%) and Hulu (53%). Additionally, Netflix (14%) and Disney+ (12%) have the largest percentages of streamers that mooch off of someone else’s account.
And who are the moochers? The study found that password sharing is far more common among Gen Zers (71%) than any other demo.
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