In the wake of Netflix’s recent password-sharing crackdown, the streaming giant has witnessed a surge in daily sign-ups, according to data from research firm Antenna. The crackdown, which came into effect on May 23, was launched in response to the challenge of making money in an increasingly saturated market and a tough economy.
Formerly known for promoting password-sharing and even tweeting “Love is sharing a password,” Netflix’s new rules allow US users to add a member outside of their homes for an additional fee of $8 per month. The company estimated that over 100 million households had been sharing their log-in credentials with people outside their homes.
Netflix’s coding seems to have paid off as Antenna reported nearly 100,000 daily sign-ups on both May 26 and May 27. The number surpassed levels seen during the initial US COVID-19 lockdowns in March and April 2020. Notably, Netflix has expanded this crackdown to over 100 other countries.
In the 4.5 years that Antenna has been covering the company, this recent spike has marked the four largest days of US user acquisition for the streaming video pioneer. The news has also sent shares of the company up by 2.3% to $418.92 in early trading.
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Alex Smith is a writer and editor with over 10 years of experience. He has written extensively on a variety of topics, including technology, business, and personal finance. His work has been published in a number of magazines and newspapers, and he is also the author of two books. Alex is passionate about helping people learn and grow, and he believes that writing is a powerful tool for communication and understanding.
