Netflix is reportedly planning to discontinue its password sharing feature in early 2023.

There had been rumors about the end of password sharing, but the changes are set to take effect next year, according to IANS in New Delhi.

Netflix has long been aware that password sharing is a problem that hurts its earnings, but the anticipated increase in subscriptions in 2020 has caused the company to avoid addressing the issue.

Because of this year’s revenue decline and the platform’s first subscriber loss in ten years, Netflix CEO Reed Hastings decided it was time to address the issue.

According to the report, the company plans to charge users who share accounts with others outside of their household beginning next year.

In October, the streaming giant announced the ‘Profile Transfer’ feature, which was rolled out to all members worldwide to prevent password sharing.

Netflix also announced on Wednesday that it will launch the ‘Nike Training Club’ on December 30, 2022, allowing users to stream fitness content.