Max, formerly known as HBO Max, is the latest streamer to follow Netflix with a password-sharing crackdown, which will begin later this year.
JB Perrette, Warner Bros. Discovery CEO and Global Streaming president, recently spoke about growth initiatives for the platform at Morgan Stanley’s Technology, Media & Telecom Conference and brought up a password-sharing crackdown as one of the main focuses.
Perrette said that Netflix’s implementation of the password-sharing move has been “extremely successful” and that Max will be starting the same thing later this year and on into 2025.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
He added, however, that he did not want to "oversell" the idea. "Netflix was in market for 17 years. That means people are sharing passwords for 17 years," Perrette said. "We've been in market for four, if you count the HBO Max launch. And obviously, we're not quite at the same scale, but we think there's — relative to the scale of our business — it's a meaningful opportunity."
He also said the streaming service would continue investing in content and expand into additional international markets to drive acquisitions and reduce churn.
Max declined a request for comment.
The news follows a move announced last month by Disney Plus to expand its password-sharing initiative to the U.S..
Netflix implemented password sharing fees in May 2023 and hiked prices in October 2023, helping the company add 13.1 million subscribers in the fourth quarter.
In December, Max ended two perks for legacy subscribers to its ad-free plan – 4K streaming and the ability to stream on three devices at once – but the price remained at $15.99 per month. Subscribers could keep these perks, however, by upgrading to the Ultimate Ad-Free plan for $19.99 per month, which adds 4K streaming and the ability to stream on four devices at once.
As the price of streaming rises and platforms continue to restrict password-sharing, you may be wondering how to find the best deals. To compare a list of free services as well as prices on premium platforms, the nonprofit Consumer Reports' Guide to Streaming Video Services could be of help.
Related Content
-
Eight Key Steps to Take When Investing in the Stock MarketThe stock market can be a confusing place for beginners, but it doesn't have to be.
-
Confused by Annuities? Making Sense of the Different TypesMany investors aren't sure if annuities are a good option for meeting financial goals. Let's look at the different categories, along with their pros and cons.
-
Tech Outage: How to Get Reimbursed if Your Flight Was Canceled or DelayedDid the global Microsoft outage disrupt your travel plans? Here's how to get reimbursed if your flight was canceled or delayed.
-
How the Tech Outage Impacted Banks and FinancesA major tech outage that caused chaos at airports also impacted banking and finance.
-
Get Your Starbucks $3 Drink TodayStarbucks $3 Drink specials are available this Friday only, July 19, from 12 to 6 p.m.
-
After Amazon Prime Day: The 25 Best Deals Still Going OnIf you missed out on Amazon Prime Day, no worries. There are dozens of "too-good-to-miss" Post-Prime Day deals to cash in on, from Moen, Keurig, Apple, Ninja, Levis and more.
-
Amazon Prime Day Southwest Deal: 30% Off Domestic FlightsAmazon Prime Day Southwest Deal: 30% Off Domestic Flights
-
Amazon Prime Day: Best Deals Under $50Get the best Amazon Prime Day deals under $50 before they sell out.
-
Save Money on Your Energy Bills with These Amazon Prime Day DealsAmazon Prime Day is prime time to get great deals on energy efficient devices and appliances.
-
Amazon Prime Day Savings: The 20 Best Items to Splurge OnScore exclusive Amazon Prime Day savings on those big-ticket items you've been dreaming of.
