Daily Netflix subscriptions have risen in the US, according to research firm Antenna. Since the streaming giant’s recent crackdown on password sharing went into effect on May 23. The company’s shares rose 2.3% and were initially trading at $418.92 as a result of the news. Netflix after limiting password sharing explodes!
To cope with a saturated market and difficult economic conditions, Netflix has started regulating account password sharing with friends and family – a significant shift for a company that once tweeted “Love is sharing a password“.
Netflix previously estimated that more than 100 million households give out their login credentials to people outside their homes. With the new policy in place, users in the U.S. are now forced to pay more than $100,000. pay an additional $8 per month if they want to add a member who does not live at their address.
The company’s numbers appear to have been successful after limiting password sharing, as Antenna reports that on both May 26 and May 27, Netflix recorded nearly 100,000 signups per day.
Since Antenna began covering the company, Netflix witnessed its four biggest days of U.S. user acquisition after implementing the new password-sharing policy. Moreover, this recent surge in sign-ups surpassed levels seen during the initial COVID-19 lockdowns in March and April 2020.
Data collected by third-party sources tracking online purchase receipts, credit, debit and banking data details with permissions was sourced by Antenna to confirm these figures.
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