Streaming giant Netflix saw a huge spike in subscribers in the US after it notified users about its paid sharing policies on May 23rd, according to the data analytics company Antenna.
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.
