Netflix recently ended password sharing to boost revenue in a saturated streaming market. Although this move has displeased users, it appears to be benefiting the business. The password crackdown has just begun in the US, yet the company is already witnessing a significant increase in new sign-ups. According to reports, Netflix has gained the highest number of new sign-ups in at least four and a half years since implementing the password-sharing crackdown. Here are the details.
Netflix gains the highest number of new sign-ups in four and a half years
According to the data analytics company Antenna, Netflix saw the number of new subscribers skyrocket in the four days after it put an end to password sharing in the US on May 23. During this period, Netflix experienced a significant surge in daily signups, reaching an average of 73,000, which represents an impressive 102 percent rise compared to its previous 60-day average.
Moreover, on both May 26th and May 27th, the streaming service added a remarkable 100,000 new subscribers. Antenna says these are the four single biggest days for US signups since it began tracking this data in 2019.
Netflix recently announced that it will start charging for account sharing in the United States. The media streaming service requires users to pay an additional $8 per month for each user who doesn’t live in the same household as the primary account holder. However, only the Standard Plan and Premium Plan support adding additional members, while the Basic and Standard Plans with Ads are yet to add support for this feature. Additionally, users in the UK will also need to pay £4.99 more each month for every extra member added to their account.
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