Read Next: The Real Rules for Sharing Passwords for HBO Now, Netflix, Amazon, and Hulu Netflix, Amazon, and others all have policies that similarly attempt to both acknowledge and limit sharing. Passwords for the streaming service HBO Now, for instance, are limited to a household, but the company has been vague (presumably on purpose) about what that means. And sharing streaming TV passwords isn't clearly against the rules. Millennials might counter that the situation isn't totally black and white. Of course, no one likes to be called a crook. The Jefferies analysts argue password sharing is already "the most significant cause of the declining pay TV subscriber base." They compare the current situation to a time when people jury-rigged access to cable with "illegal cable drops, third-party set tops and reprogrammed satellite cards." Revenues returned only when the industry cracked down. Similar trends have already gutted the music and news industries. The problem, the analysts suggest, is that all this sharing/stealing could quickly destroy the cable TV business. Read Next: How to Watch All the TV You Want Without Paying for Cable "We believe it is the most significant cause of the declining pay TV subscriber base." "The millennials are a generation that grew up (and will likely grow old) 'sharing' (read stealing) passwords for access to content if it continues to be ignored," wrote analysts Mike McCormack, Scott Goldman, and Tudor Mustata in a note to clients Tuesday. And let's face it, no business wants to alienate the work-force's largest generational cohort, with billions, if not trillions, worth of spending ahead of it.īut now some Wall Street analysts have decided to come right out and use another S word- steal-in discussing the problems facing some traditional media enterprises. After all, super-earnest, bike-commuting, coffee-sipping twenty-somethings don't look like dangerous criminals. It's no secret that young people like to consume entertainment they don't necessarily pay for.īut when business and tech types talk about this reality, they tend to use neutral or even flattering language: Millennials, they say, like to "swap" files and "share" subscription passwords.
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