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or people will just create a shared email account, or set up a forwarding rule for the verification emails...

I agree with another commenter. This seems targeted at people who are borrowing someone's account without their knowledge or consent.

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This kind of effort (presumably the verifications will be constant - one location being verified will trigger re-verification on all other locations) will just make people realize that piracy isn't that difficult to set up either and might make them reconsider using streaming services entirely.

They're going to use a phone number, watch.

whats going to stop them from sharing otp from netflix only using some andriod app etc?

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