Unlike what was speculated, sharing of Netflix, Inc’s (NASDAQ:NFLX) password is no longer a crime. Hence, no one should find themselves behind bars. The speculations, which have through a whole lot of scare to many Netflix users kicked off from the United States v. David Nosal case. A federal appellate court did mention about sharing of passwords, but the whole thing has been regarded as a huge misunderstanding. Thus everyone can now breathe a sigh of relief. Netflix does not have any plans to reprimand subscribers according to the CEO Reed Hastings.
Hasting was speaking in the streaming video company’s third-quarter earnings webcast where he stated, “In terms of [password sharing], no plans on making any changes there.” He further emphasized that “Password sharing is something you have to learn to live with, because there’s so much legitimate password sharing, like you sharing with your spouse, with your kids.”
Netflix password had been regarded as a crime
No one wants to go to jail for things they can avoid including Netflix password, which was termed as a federal crime by the federal court. But even with the court’s stand, Hastings is still reiterating that the act is there to stay. According to Money magazine, the court’s ruling is destined to target hacking and not the ordinary conduct. The ruling seems to put millions o people at risk, but apparently, it has been very rare for the US government to prosecute anyone sharing their login details. Hence, the situation is still hanging in the balance.
But Netflix has held onto a solid progress
Despite all the uproars and clamor about passwords, the streaming video company has continued to beat expectations in terms of subscriptions. It has this far reported a rise of 3.2 million new international subscribers with an addition of another 370,000 located in the United States. The growth, which Hastings attributes to the company’s growing library of original content has surprised investors whose were previously conservative about the 25% price hike for current subscribers.
Meanwhile, there is more good news beyond the Netflix password relief. In response to a rumored offline viewing feature, the company says that there are no plans to hike prices anymore. The company’s trading was at $118.79, which translates to $18.99 or 19.3%.