You will have to go a long way to find someone who doesn’t use online streaming services, in fact most of us will most certainly know people who have subscribed to many as opposed to one.
The industry, despite being on the up and up and up, though lost about $9.1 billion in revenues in 2019 and the figure is expected to go up to $12.5 million in 2024 according to a report.
The reason why companies like Amazon, Netflix and others lost such an eye watering amount was because the users were sharing passwords with their near and dear ones. 31% of all subscribers shared their passwords with their friends and family, according to the report.
The report went on to add that people in the age bracket of 13-24 shared their credentials rather liberally with nearly 64% of the demographic obliging to the requests. People over 35 were rather cautious with their approach and only 16% shared the information.
At present the industry seems to have rather forgiving view of the whole thing but that is not likely to be the same forever.