Netflix and not chill: How to cancel your account after Netflix ban on password sharing.

“The divorce is final. #CancelNetflix.”

That is just one of the social media posts making the rounds since Netflix announced recently that it is officially cracking down on password sharing between households in the U.S. 

What are the new Netflix password sharing rules?

Subscribers this week received an email from Netflix warning “Your Netflix account is for you and the people you live with – your household.”

Now you either have to transfer your friends and relatives’ profiles to a new membership that they pay for or pony up $8 a month to continue sharing your account with them.

The popular streaming service used to encourage sharing Netflix credentials with friends and extended family. But it has changed its tune as subscriber growth slowed amid growing competition and a return to pre-pandemic viewing habits. Now it’s looking to squeeze a few more bucks out of freeloaders. 

Netflix users threaten to cancel Netflix accounts

The ultimatum isn’t going over too well. Subscribers have taken to social media, threatening to cancel their subscriptions. 

Shame on you, Netflix, one person wrote. “Isn’t it bad enough the cost of living is skyrocketing? Groceries, rent, gas, etc. Don’t you have enough?”

Another accused Netflix of corporate greed. 

“Let me process this. Netflix won’t adequately pay their writers and are now charging additional money for a feature they once openly advertised and encouraged,” the disgruntled Netflix subscriber wrote, referring to the Hollywood writers’ strike.

Is Netflix losing subscribers?

It could just be all social media talk. The trend behind the bluster is in Netflix’s favor, according to Jason Helfstein, Oppenheimer’s head of internet research.

A recent survey the firm conducted found that some 80% of respondents pay for Netflix, with 48% sharing their passwords with people outside their households. Nearly half – 45% – said they’d be willing to pony up an extra $8 a month.

The Netflix password-sharing crackdown could add 36 million new subscribers to the streaming service, Helfstein said in a research note.

How to cancel your Netflix account 

If you are ready to bid adieu to Netflix, we have you covered. 

On the Netflix home page, click the arrow next to the profile icon on the far right.

Choose “Account.”

Click “Cancel Membership.”

Click “Finish Cancellation.”

Fin.