Netflix in late May began cracking down on password sharing in the United States, and it has received its desired result, says subscriber data shared today by analytics company Antenna (via The Wall Street Journal).
After Netflix put an end to multi-household password sharing in the United States, average daily signups to Netflix reached 73k per day, a 102 percent increase from the prior 60-day average. Netflix saw close to 100,000 daily signups on both May 26 and May 27, which is even better than the COVID lockdown periods.
While Netflix saw an increase in subscription cancelations following the policy change, the number of new signups beat out the number of cancellations. Antenna says that the ratio of signups to cancels since May 23 is up 25.6 percent compared to the prior 60-day period.
Average daily Sign-ups to Netflix reached 73k during that period, a +102% increase from the prior 60-day average. These exceed the spikes in Sign-ups Antenna observed during the initial U.S. Covid-19 lockdowns in March and April 2020. https://t.co/2CNU67kQST
— Antenna (@AntennaData) June 9, 2023
Netflix says more than 100 million households were sharing accounts. The streamer said that it had expected some cancellation reaction in the U.S., but that the policy change would result in member base growth.
Netflix is offering two ways to continue to share your membership outside of the household:
- Buy an extra member: You can share your Netflix account with someone who doesn’t live with you for $7.99 per month more.
- Transfer a profile: Anyone on your account can transfer a profile to a new membership that they pay for.
Netflix is priced starting at $6.99 per month for the plan with ads. A basic plan with no ads, access on one device at a time, and 720p HD streaming is priced at $9.99 per month. The Standard Plan with 1080p streaming and access on two devices at one time is priced at $15.49 per month, and the 4K Netflix plan with support for watching on four devices at a time is priced at $19.99 per month.
