A big chunk of Netflix viewers are watching on borrowed (aka stolen) passwords.

A big chunk of Netflix viewers are watching on borrowed (aka stolen) passwords. The Millennial-beloved streaming service reports they have 139 million subscribers, but according to MoffettNathanson, 14% of Netflix users access an account that belongs to someone outside of their household. They also found that the top reasons subscribers like Netflix are because it’s ad-free and they can choose what to watch, a sign that they “like the container even more than the content” and may be willing to pony up for their own password in the future. (Recode)