Illustration by Alex Castro / The Verge

The era of Netflix password sharing will soon come to a close. Netflix has plans to enforce password-sharing rules “more broadly” toward the end of the first quarter of 2023, the company announced in its earnings report today.

“While our terms of use limit use of Netflix to a household, we recognize this is a change for members who share their account more broadly,” Netflix writes. “As we roll out paid sharing, members in many countries will also have the option to pay extra if they want to share Netflix with people they don’t live with.”

The company also announced that CEO Reed Hastings is stepping down after 25 years of running the company and will pass the baton to Ted Sarandos, who had already been serving as co-CEO, and Greg Peters,…

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