Can I borrow your Hulu password, buddy?
Netflix, Hulu, and Amazon are all battling each other for the attention of our eyes. But there also battling for dollars from the younger generation. Turns out that streaming subscribers are sharing passwords and skirting systems in increasing numbers, creating an increasingly expensive problem for these companies.
Recent figures say that 35 percent of millennials share passwords for streaming services. That’s compared with 19 percent of Generation X subscribers and 13 percent of Baby Boomers.
That can add up to hundreds of millions of dollars in potential revenue that streaming companies aren’t booking. Hulu loses in the neighborhood of $1.5 billion a year, according to recent financial reports by its major stakeholders.