Netflix's password sharing crackdown sees spike in new subscribers
Netflix's infamous crackdown on password sharing is working, actually.
"Netflix has had the four single largest days of U.S. user acquisition in the four and a half years that Antenna has been measuring the streaming service," Antenna, an analytics tracking firm, said. "Based on the most current data available, Netflix saw nearly 100,000 daily sign-ups on both May 26 and May 27."
Antenna reports that there's been a rise in cancellations, but the number of new sign-ups has outweighed the number of people leaving.
Last month, the streaming platform announced that a "Netflix account is for use by one household." A new feature, Transfer Profile, would allow others who use(d) your account to transfer their full profile – watchlists, history, and all the rest – to their own new paid-for account, with any additional costs. Standard and premium members have the option to add an extra user to their existing account members for $7.99/month in the US and £4.99/month in the UK.
The move comes after a mass decline in subscribers, with the streamer reporting 74.4 million paid subscribers across the United States and Canada in the first quarter of 2023 (H/T Statista). This is a decline of 200,000 compared to the first quarter of 2022, despite the streamer adding a cheaper, ad-supported tier at just $6.99 a month in November.
For more from the streamer, check out the best Netflix shows and best Netflix movies you can watch right now. Extraction 2, starring Chris Hemsworth, is also out this week, with Gabrielle Union's The Perfect Find and animated action film Nimona out later in the month.
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