Netflix subscriptions increase after crackdown on password sharing

Key Points

  • Netflix Subscriptions skyrocketed in the United States after the streaming service's recent crackdown on password sharing, according to research by Antenna.
  • Subscription additions from the May 25 to May 28 have surpassed those at the start of the pandemic.
  • Netflix shares are up more than 2% Friday morning and have gained about 17% since the May 23 password crackdown .

The Netflix's (NFLX) recent decision to crack down on password sharing may pay off.

Data from streaming analytics firm Antenna showed Neflix added more new subscriptions in the US between May 25 and May 28 than any other four-day period since Antenna began streaming. keep records in 2019. He said the service had almost 100,000 registrations on May 26 and. 27 alone.

It came right after Netflix warned US subscribers on May 23 that the service is only for members of their household and they would either have to pay an additional monthly fee of $7.99, or transfer membership if they included other people.

Antenna reported that the average number of daily registrations reached 73,000 over those four days, a 102% jump from the previous 60-day average. He noted that these were greater than at the start of the COVID-19 lockdowns in March and April 2020, when demand for the service exploded.

Research company added that although cancellations also increased during this May period, the ratio of registrations to cancellations was positive at 25.6% over the previous 60 days.

Netflix shares increased up more than 2% on Friday morning, and have gained around 17% since the May 23 password crackdown.


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