• Angela Arp

Password Sharing, ugh!

But admit it, we've all done it, right?

These days it's all over the news, with some pretty significant players in the streaming world attempting to make sweeping changes to their business to combat the issue.

Recent reports note that 100 million households use a shared password to access streaming services, costing service providers several billion dollars a year in lost revenue.

In the past, streaming services tolerated credential sharing as it was seen as expanding their reach. Now the competition is getting hot & large amounts of profit are not being realized; we're now at a point where the streaming services need to start taking action.

But how do you stop this without losing too many paying customers?

The only way to combat password sharing is through technical innovation. However, the service providers fear that they risk driving away users with any changes to combat password sharing.

So far, it looks like the largest of services will start by cracking down on simultaneous logins streaming on different devices at the same time. While this might cut down on some shared accounts, it won't catch them all.

So while the streaming services will need to crack down on the moochers and borrowers, research shows that at least 30% of users would pony up to pay for their own account.

Ultimately, to ensure password sharing is not happening, the services will need to make users authenticate themselves more often, which will frustrate them. So, how do you simplify the account login process so as not to create frustrated account holders?

It's imperative that the user authentication process that is enforced is simple yet secure, ensuring the authentication process is not cumbersome.

This is where technology like V2verify can remedy their password sharing problems. V2verify's Voice authentication is quick and easy, with the user authenticated with only 2 seconds of natural speech. V2's voice solution also has a heightened security level; it cannot be reverse-engineered or faked. Also, V2verify has a sophisticated liveness feature that ensures a recording of the voice cannot be used to authenticate. These features make V2verify significantly more secure than other biometrics like fingerprint & facial recognition.

Contact us today to learn how V2verify is changing the world of user authentication and identity management.

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