Netflix’s crackdown in the US against “password sharing” sparked a veritable rush of new subscribers in the first few days, according to new data from streaming analytics firm Antenna, the “Wall Street Journal” reported today.
Between May 25 and May 28, shortly after Netflix announced the restrictions for users in the US and more than 100 countries and territories, the streaming giant began collecting more new subscriptions in the US than any other four-day period. Data in 2019.
This should have helped Netflix’s decision to stop password sharing. According to the company, more than 100 million people worldwide watch Netflix content with borrowed passwords.
The company’s latest move forced users who share an account outside of their home address to pay an extra $7.99 per month. He also limits the number of additional members customers can add to their account based on the tier of service they pay for.
Losing numbers compel Netflix
Last year, Netflix posted two quarterly subscription losses for the first time in its history. The company has delayed taking action against “password sharing” for years, although company insiders have long warned.
Account sharing “undermines our ability to invest in Netflix and improve it for our paying members, as well as grow our business,” the company said in its first-quarter letter to shareholders. Outside of the US, Netflix has already cracked down on “password sharing” in countries like Canada, Spain, Portugal and New Zealand. New rules are soon to be introduced in Austria as well.