Login-sharing by Millenials to Streaming Services Costing Companies Millions
Research firm Magid recently revealed that 35% of millennials share of passwords on streaming sites like Netflix, compared 19% of Gen X and 13% of Baby Boomer subscribers.
It is said that this unique problem is costing companies millions, but despite this, a few executives have tried to dispel concerns. In 2016, Netflix CEO Reed Hastings said that it has not been a problem, while HBO CEO Richard Pleper said in 2014 that they are looking at different ways to affect password sharing, but it has not been a fundamental problem for the company.
Magid also said that post-millenials are posing an even bigger problem for the space, with users 21 years old and younger sharing passwords at a rate of 42%.