Netflix Subscriptions Rise After Password-Sharing Crackdown
While average daily signups rose to 73,000 during this window, marking a 102 percent increase over Netflix’s previous 60-day average, Antenna says the streamer also added 100,000 subscribers on both May 26th and May 27th. That’s more subscribers than Netflix raked in once the covid-related lockdowns went into effect in March and April 2020, according to Antenna.
Average daily Sign-ups to Netflix reached 73k during that period, a +102% increase from the prior 60-day average. These exceed the spikes in Sign-ups Antenna observed during the initial U.S. Covid-19 lockdowns in March and April 2020. https://t.co/2CNU67kQST— Antenna (@AntennaData) June 9, 2023
Netflix’s new password-sharing policies ask subscribers to pay an extra $7.99 per month to share their account with up to two people who live outside their household.
Even though Netflix has warned investors about a “cancel reaction” that could occur in response to the change, Antenna says there were still more signups than cancellations in the period it tracked.