It’s been just over two weeks since Netflix announced its crackdown on password sharing in the US, and now reports are emerging suggesting that the streaming platform’s strategy has worked… so far, at least.
That’s right — since the May 23rd announcement, Netflix has enjoyed the four largest days of US user sign-ups since 2019, when research company Antenna began keeping track (via Variety). From May 25th through 28th, an average of 73,000 users a day signed up for the platform, constituting a 102% increase from the prior 60-day average.
On the flip side, Netflix had warned investors about the possibility of mass-cancellations from users as a form of backlash to the new policy — but contrary to worst-case expectations, the number of new sign-ups outpaced the number of cancellations. According to Antenna, the ratio of sign-ups to cancellations since May 23rd increased 25.6% compared with the previous 60-day period.
The new policy from Netflix is aimed at cutting down the number of folks who share accounts. The platform will start charging $7.99 for any “extra members” who use the account outside of the “Netflix Household,” which is “a collection of your Netflix devices connected to the internet at the main place you watch Netflix.” If users don’t sign up for this $7.99 fee, the “extra members” will be blocked from accessing the platform.
Previously, Netflix’s largest spike in new sign-ups Netflix was in March and April of 2020, when many users were creating accounts to stream their way through the early days of COVID-19 quarantining.
Beyond these logistic maneuvers, Netflix is still going strong as a source for engaging, popular content. The third season of Tim Robinson’s celebrated sketch comedy show, I Think You Should Leave, just premiered on the platform, with new seasons of shows like Black Mirror and The Witcher set to debut later this month.