Netflix Sees Surge in New Subscriptions Following Crackdown on Password Sharing
Netflix’s recent announcement of cracking down on user password sharing has surprisingly resulted in a significant increase in sign-ups for the streaming service. Despite the controversial sharing policies, Netflix has reported record-breaking subscription growth, particularly in the United States.
According to a report by Variety, Netflix has experienced the highest levels of sign-ups in the past four years. Antenna, a data analysis firm, reveals that between May 25 and 28, Netflix witnessed a remarkable daily average of 73,000 new sign-ups, reflecting a 102% surge compared to the previous 60-day period. These figures even surpass the subscription spike observed during the pandemic lockdowns in 2020.
Alongside the surge in new subscriptions, Netflix observed an increase in cancellations. The ratio of sign-ups to cancellations has risen by 25.6% compared to the previous 60-day period. Netflix’s reforms revolve around a stricter definition of a user on its platform. In a statement, Netflix emphasized that an account is intended for the subscriber and individuals residing within their household.
This sign-up surge arrives just ahead of Netflix’s anticipated annual global fan event, Netflix Tudum, scheduled to take place in São Paulo, Brazil, on June 17. Coinciding with this excitement, Netflix recently unveiled the trailer for The Witcher Season 3, marking Henry Cavill’s farewell to the franchise.
