Netflix’s password-sharing crackdown since May has become a resounding success for the company gaining another 2.6 million new subscribers in the month of July.
New data from the data research firm Antenna reveals.
“Netflix commanded 2.6m Gross Adds in July 2023, which is an overall elevated compared to normal, but presents a -25.7 percent dip from its record-breaking June 2023,” the Antenna report reads.
In May, Netflix rolled out a password-sharing crackdown which meant that members who want to share accounts with people outside of their household will face an extra fee.
This move was aimed at boosting their subscribers and was a great success as the company experienced a great spike in Netflix Sign-ups immediately after the crackdown was rolled out.
According to the Antenna data, Netflix had the four single largest days of US user acquisition since alerting its subscribers that it would begin the password curb sharing on May 23.
“Based on the most current data available, Netflix saw nearly 100,000 daily sign-ups on both May 26 and May 27,” the report reads.
Antenna states that the average daily Netflix Sign-ups reached 73 thousand during the four-day period, a 102 percent increase from the prior 60-day average.
In addition, according to Antenna, although cancellations also increased during this period, but not as much as Sign-ups.
“The ratio of Sign-ups to cancels since May 23 is up +25.6% compared to the previous 60-day period,” it reads.
Netflix’s password crackdown has seen the company have more sign-ups than cancellations.
