Netflix Inc. has vowed to clamp down on password sharing as it looks to improve its financial fortunes, and the company just shared more details about how it will do that.

The company plans to make customers in several Latin American markets start paying extra if they want to add additional homes to their Netflix NFLX accounts, according to a recent blog post. A traditional subscription will give viewers the ability to watch Netflix in one designated home, but subscribers will need to pay an additional $2.99 for each new…