Netflix gains U.S. subscribers after tackling password sharing

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Platform started to regulate the sharing of passwords in the country in May. According to a research firm, Netflix recorded nearly 100,000 daily subscriptions on the 26th and 27th of last month. Netflix gains subscribers in the US after cracking down on password-sharing Dida Ruvic/Reuters Daily subscriptions to Netflix in the United States jumped in the first few days after the platform began a May 23 crackdown on password-sharing, data from research firm Antenna showed. The data made the company’s shares rise about 3% at 11:29 am (Brasilia time). Looking for new ways to make money in a saturated market and a tough economy, Netflix began regulating the sharing of account passwords – a drastic turnaround for a company that once encouraged the practice by tweeting “To love is to share a password.” Netflix begins charging for sharing passwords in Brazil GUIDE How Netflix charges for sharing passwords The company estimates that more than 100 users have provided their login credentials to third parties. Under the new rules, users in the US can add a member outside of their homes for an additional fee of $8 per month. The strategy seems to have paid off, as the company recorded nearly 100,000 daily subscriptions on May 26 and 27, according to Antenna. Netflix, which has expanded the strategy to more than 100 other countries including Brazil, did not immediately respond to a Reuters request for comment. The video-streaming pioneer saw its four biggest user acquisition days in the US after the change took effect, Antenna said. The recent spike also exceeded levels seen during the initial pandemic lockdowns in states in March and April 2020, according to the research firm, which obtains data from third-party data collectors that track receipts for online purchases, credit, debit and bank data details upon permissions.

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