Netflix subscriptions jump, password crackdown pays off
Netflix said over 100M accessing the service using borrowed passwords
CoinDesk Chief of Staff of Content and tech analyst Pete Pachal discusses Netflix's crackdown on password sharing and how it could impact other streaming services.
Netflix subscriptions jumped in the days after it put a stop to users sharing their passwords on May 23, according to new data compiled by streaming analytics company Antenna.
NETFLIX STARTS PASSWORD-SHARING CRACKDOWN IN UNITED STATES
The streaming platform added more new subscriptions between May 25 and May 28 than in any other four-day period since Antenna began compiling the information in 2019. Over that period, average daily signups peaked at 73,000, and from May 26 to May 27, Netflix saw 100,000 new daily sign-ups.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NFLX | NETFLIX INC. | 823.96 | -13.30 | -1.59% |
Over that period, average daily signups peaked at 73,000, and from May 26 to May 27, Netflix saw 100,000 new daily subscribers join the streaming service.
Meanwhile, the company said that more than 100 million people are accessing Netflix content by using borrowed passwords.
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Netflix’s solution is to force users who share an account outside the same home to pay an additional $7.99 a month to watch, while limiting the number of additional members that paying customers can add to their account.
NETFLIX SHAREHOLDERS REJECT EXECUTIVE PAY PACKAGES
The monthly fee for sharing passwords is $2 less a month than a basic subscription but $1 more than the ad-supported plan.