As competition for customers among streaming services heats up, so has the proliferation of online marketplaces where passwords are being sold illegally at bargain-basement prices.
The announcement came after Netflix said it is anticipating slower subscriber growth. The streamer expects it willin the first quarter, compared to 4 million subscriber adds a year earlier.
At the same time, password sharing has taken off during the pandemic as consumers spend more time at home streaming shows. People who tend to share passwords are in the ages of 18 to 24, according a study by the Advertising Research Foundation that surveyed 10,400 adults. Younger consumers may be more cash-strapped and are looking for ways to save money from paying for multiple streaming services, despite exposing themselves to security risks, especially if they use the same password for other services like a bank account, industry experts said.
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