Netflix Inc. Has A Bigger Problem In Store For It

Looks like the streaming media company has some real competition coming towards it; it need to improve its security system.

Netflix Inc. has expanded in over 190 countries worldwide during its expansion spree and charges only $9.99 per month for the customers to avail the service – which is a great deal for majority of the users of the streaming media giant. However, a problem has surfaced for the company as a black market for the online streaming service has been discovered that is charging as less as 25 cents per account.

It has been established that during its expansion spree, the streaming media organization forgot to take into account those people who want the same service for cheaper. Online hackers have been around for way too long. They have managed to target bank accounts, credit cards, social media account etc. – and now their target is Netflix Inc.

According to a research report conducted by Symantec, which is an American Cyber Security Firm, stated that a black market has emerged that is claiming to provide the same service provided by the streaming media leader for cheaper rates; the research company was conducting an analysis of how the hacking industry works.

For the users who want the service for cheaper rates have an alternative way through which they can avail the service, hackers are marketing and selling hacked legitimate Netflix accounts to customers for a lesser price, according to the research analysis by the cyber security firm. These accounts are being sold at a price of 25 cents which is not even half the price that the company is actually charging its users. The security firm shows concern over the matter stating that people would prefer to go for these cheaper stolen accounts as they will be able to start their own ‘illegal store’ and further starting selling these illegitimate accounts.

As per the research, these stolen accounts are actual accounts of real customers who are paying their monthly subscription charges for the streaming service that they are availing. The hackers have somehow managed to gain access to Netflix’s database specifically their usernames and passwords and have managed to make a way to make money off of it.

Symantec stated that there are two ways through which these hackers might have gained access to the usernames and password of actual company accounts. One of these two ways is through malware and/or they might have gained access through phishing – in which the hackers pretend to be a bank or an online service through which they gain accessibility to the users’ login information.

A number of users have confirmed that they have received emails that stated that they are from Netflix. These fake emails ask the users to confirm their login credentials. As soon as the user puts its credentials into the email, they are directed to a fake website and not the official website of the streaming media company. So whatever information they type in the email is sent to the hacker.

Furthermore, the information could also be leaked through malware if the users accidentally download something on their computers. These malwares are designed in such a way which makes it seem like Netflix’s original software and according to the research the service is mostly affected users in Brazil – but this is a simple Trojan virus that creeps up into the customer’s computer and steals their information.

Netflix, Inc. Makes A Surprise Entry In Various Asian Market

Netflix, Inc. shocked the world with its latest release – unless you are sitting in China, Syria, North Korea or the Crimea, you are blessed enough to access the video streaming media service. There was an unprecedented global expansion into 130 countries on January 6, 2015. The original content by the media giant had made its services available in all over the world however the categories might vary from country to country.

Earlier on Wednesday, the video streaming service was launched in India and Russia but not China, catering to over 70 million potential customers in those regions. So the total countries that the service is now available in is 190; now it just need to be in 20 more countries by the end of 2016. This news was revealed at the CES 2016 conference held in Las Vegas, where the media giant had planned to announce the entry into the Indian market.

Along with making the expected announced, it added to it the launch in Russia as well as Indonesia. It is safe to say that the on demand video subscription service is now available in some of the largest countries of the world. Initially in 2015, the company was in talks with Alibaba Group Holding regarding a potential partnership but soon after the Chinese e-commerce giant launched its on video streaming service in the country.

The chief executive officer of one of America’s largest media companies, Reed Hastings stated that it hopes to enter the Chinese market in the near future, as per a blog post by Variety’s Live Blog. Another official announcement was made by the company suggesting that the service will most likely not be available in North Korea, Crimea as well as Syria due to restrictions by the U.S. government.

In the new market, Netflix, Inc. has planned to keep its same pricing strategy. In India, the pricing starts with 500 Indian Rupees which is $7.49 per month for the basic, single user, non-HD package. The standard and premium packages come in about 650 Indian Rupees ($9.75 per month) and 800 Indian Rupees ($11.99). At this point, the customers of the new market are only able to make payments via credit and debit cards. It is highly expected that it might get into partnership with various mobile carriers so that the millions of users who do not own a credit or a debit card are able to make payments easily.