Streaming giant Netflix is gearing up to crack down on password sharing.

In a new interview in which the executives discussed the company's Q3 2019 Earnings, Chief Product Officer Greg Peters said that Netflix was "continuing to monitor" the situation.

In the video above: Spotify Australia announces it's cracking down on family accounts

His comment has been interpreted as hinting that the company will start looking at ways in which it can quash the practice of password sharing.

But Peters was quick to clarify this would be done in a way that would not alienate the service's existing user base.

"We'll see those consumer-friendly ways to push on the edges of that," Peters said.

"We have no plans to announce at this point in time, in terms of doing something differently."

Netflix file Credit: AAP

When 7NEWS.com.au contacted Netflix for comment, Peters' statement was reiterated.

Currently, up to four devices can stream Netflix at any one time but the amount of people a subscriber can share their password with is essentially unlimited.

Netflix certainly wouldn't be the first subscription service to crack down on users sharing passwords and accounts.

More on 7NEWS.com.au:

Earlier this month, Spotify Australia began implementing changes targeted at listeners using its Premium Family Subscription.

The changes now require members of a family plan to verify that they are all living at the same address, with a spokesperson telling 7NEWS.com.au that plan owners will be required "to provide a valid home address at signup using Google Maps".

"Family members can verify their eligibility by entering their address using Google Maps or enabling location services on their device," the spokesperson said.

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