Netflix Sees Surge in Daily Sign-Ups Amidst Crackdown on Password Sharing

Following the implementation of Netflix's crackdown on password sharing on May 23, daily sign-ups for the streaming giant in the United States have experienced a significant increase

Following the implementation of Netflix’s crackdown on password sharing on May 23, daily sign-ups for the streaming giant in the United States have experienced a significant increase, according to data from research firm Antenna.

The news of the surge in sign-ups prompted a 2.3% rise in the company’s shares, reaching $418.92 during early trading.

In an effort to explore new revenue streams in a saturated market and challenging economic conditions, Netflix took measures to regulate the sharing of account passwords among friends and family. This move represents a significant shift for a company that had previously embraced the concept, as evidenced by their tweet stating, “Love is sharing a password.”

Netflix estimated that over 100 million households had shared their login credentials with individuals outside their homes. Under the new policy, U.S. users can add members residing outside their households by paying an additional fee of $8 per month.

The company’s calculations appear to have paid off, as Antenna’s data reveals that Netflix experienced nearly 100,000 daily sign-ups on both May 26 and May 27.

These numbers represent the highest levels of user acquisition in the United States that Antenna has recorded during the 4-1/2 years it has been monitoring Netflix’s performance.

Moreover, the recent surge in sign-ups surpassed the levels observed during the initial COVID-19 lockdowns in the United States in March and April 2020, as reported by Antenna. The data provided by Antenna is sourced from third-party data collectors that track online purchase receipts, credit and debit transactions, and banking details with user permissions.

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