Password crackdown benefits Netflix
June 9, 2023
US sign-ups for Netflix have jumped in the first few days after its password-sharing crackdown came into effect, according to research firm Antenna. The news boosted Netflix stock by over 2 per cent in early trading.
Netflix moved to regulate the sharing of passwords with friends and family having estimated that more than a 100 million homes had supplied their login credentials to people outside their homes. Under the new rules, US users can add a member outside of their homes for an additional fee of $8 per month.
The gambit seem to have paid off as the company recorded nearly 100,000 daily sign-ups on both May 26th and May 27th. The new policy came into place on May 23rd.
Antenna sources data from third-party data collectors that track online purchase receipts, credit, debit and banking data details with permissions.
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