Sharing Netflix passwords will be banned from the end of March.
This has been on the horizon for quite some time as ultimately, it's costing them money.
It's unclear at the moment how it will work but Netflix are looking to ensure people within one household/address have an account of their own so that your sibling, friend, partner etc. are not using the same account.
Those sharing their passwords will be able to transfer to a new paid account.
"As we roll out paid sharing, members in many countries will also have the option to pay extra if they want to share Netflix with people they don’t live with. As is the case today, all members will be able to watch while travelling, whether on a TV or mobile device."
The company carried out a trial in some Central and South American countries last year and
said that they got a negative reaction in the short term so they expect to lose a lot of customers in the process of making these changes in Ireland and the UK.
"As we work through this transition – and as some borrowers stop watching either because they don’t convert to extra members or full paying accounts – near-term engagement, as measured by third parties, like Nielsen’s The Gauge, could be negatively impacted," the statement said.
"However, we believe the pattern will be similar to what we’ve seen in Latin America, with engagement growing over time as we continue to deliver a great slate of programming and borrowers sign-up for their own accounts."
It's understood other streaming services may follow suit in the future.