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Netflix sees increase in subscriptions as crackdown on password-sharing progresses.

Netflix subscriptions rise amid password-sharing crackdown

Netflix subscriptions rise amid password-sharing crackdown

Netflix’s Recent Crackdown on Password Sharing Results in Boost in Subscriber Base

Netflix’s move to crack down on password sharing in the U.S. appears to have resulted in a boost to its subscriber base. According to a report from data provider Antenna, Netflix saw nearly 100,000 daily signups on two days since alerting its members of its new password sharing policy at the end of May. This marks Netflix’s four single largest days of signing up U.S. customers since Antenna began tracking the service.

The company began sending out emails to members on May 23, stating that accounts were only to be shared within the same household. Members have two options for people using their passwords outside of their household: either transfer the profile to the person outside of their household so that they can begin a new membership that they pay for on their own, or pay an extra fee of $7.99 a month per person outside of their household.

Since the email began rolling out, Netflix’s average daily signups have reached 73,000, a 102% increase from the prior 60-day average. This surpasses the spike in sign-ups during the initial lockdowns of the pandemic. The crackdown on password sharing comes as Netflix looks to boost its revenue, having seen subscriber growth stagnate in 2022.

Along with cracking down on password sharing, Netflix has also introduced a cheaper, ad-supported tier. The company’s stock has been rebounding since reporting its first subscriber loss in a decade last year, hitting a 52-week high on Friday and seeing an increase of over 40% year-to-date.

FAQs:

Q: What is Netflix’s new policy on password sharing?
A: As of May 23, Netflix only allows accounts to be shared within the same household. Members can either transfer the profile to someone outside of their household so that they can begin a new membership that they pay for on their own, or pay an extra fee of $7.99 a month per person outside of their household.

Q: How has Netflix’s subscriber base been impacted by the new password sharing policy?
A: According to a report from data provider Antenna, Netflix has seen nearly 100,000 daily signups on two days since the end of May, representing its four single largest days of signing up U.S. customers since Antenna began tracking the service. This marks a 102% increase from the prior 60-day average.

Q: Why did Netflix introduce the new password sharing policy?
A: Netflix’s new policy comes as the company looks to boost its revenue, having seen subscriber growth stagnate in 2022. The company has said that more than 100 million households share accounts, affecting its ability to invest in new content.

Q: What other measures has Netflix taken to boost revenue?
A: Along with cracking down on password sharing, Netflix has also introduced a cheaper, ad-supported tier.

Q: How has the stock market reacted to Netflix’s recent performance?
A: After reporting its first subscriber loss in a decade last year, Netflix’s stock has been rebounding, hitting a 52-week high on Friday and seeing an increase of over 40% year-to-date.

Netflix subscriptions rise amid password-sharing crackdown
Netflix subscriptions rise amid password-sharing crackdown

Amid crackdown on password-sharing, there is a rise in Netflix subscriptions.

Netflix’s recent crackdown on password sharing appears to be paying off for the streaming giant, as it has had its four biggest days of signing up US customers since Antenna, a data provider, began tracking the service. The move, announced in late May, has resulted in nearly 100,000 daily signups on two of those days. Since then, average daily signups to Netflix reached 73,000, a 102% increase from the prior 60-day average. By alerting members that only accounts shared within the same household are permitted, and offering two options for those using passwords outside the household, Netflix hopes to maximise revenue and invest more in its platform.

Netflix’s stock has seen significant growth in 2023, with shares up more than 40% year-to-date. Other measures to boost revenue, including the introduction of a cheaper, ad-supported tier, have contributed to that growth, along with a rebound from the company’s first subscriber loss in a decade. Netflix began rolling out password-sharing guidance in international markets earlier this year and had delayed its crackdown on password sharing in the US from Q1 to Q2. The company has said that over 100 million households share accounts, or about 43% of its global user base, thus hindering its ability to invest in new content.

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