Millennials are going to extreme lengths to share streaming passwords, and companies are missing out on millions
Streaming services such as Netflix, Hulu and Amazon are increasingly fighting for eyes — upping content spends and rounding out studios. But industry leaders are fighting a different battle for dollars with their youngest viewers.
Streaming subscribers are sharing passwords and skirting systems in increasing numbers, creating an increasingly expensive problem for streaming services. Getting content in front of the addressable market can help to convert potential customers and inflate marketable metrics. But as younger users grow up used to accessing streaming services for free, the companies have to consider when and where to draw the line on password sharing.
"The cat is out of the bag," said Jill Rosengard Hill, executive president at media research firm Magid, in an interview with CNBC. "I wish I had a solution, because it's really hurting the business model and monetization of these premium high value services."
