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Netflix sees subscribers spike in the US, courtesy of new password sharing policies
Netflix has seen a huge spike in new subscribers in the US, following its new password-sharing policies. Data analytics company Antenna reports that Netflix recorded a significant increase in subscribers in the four days after it notified users about its paid sharing policies.
According to the data, daily signups rose to 73,000, marking a 102 percent increase over Netflix’s previous 60-day average. The streamer also added 100,000 subscribers on May 26 and 27. This is a huge development Netflix reported once the Covid-19 lockdowns went into effect in March and April 2020.
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 password-sharing policies
The new password-sharing policies ask Netflix subscribers to pay an extra $7.99 per month to share their account with up to two people who live outside their household. There were reports that the platform may face a huge cancellation, but signups surpassed the cancellations.
Earlier this year, the OTT platform released paid sharing in several countries including Canada, New Zealand, Portugal, and Spain. Notably, Netflix revealed during its recent earnings call that its subscriber base in Canada is “now growing faster than in the US.”