According to data from research firm Antenna, daily subscriptions to Netflix in the United States increased in the first days after the crackdown on password sharing came into effect in May.
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The news sent the company’s stock soaring with a 2.6% increase.
Looking for new ways to make money in a saturated market and a difficult economic time, Netflix began to regulate the sharing of account passwords with friends and family.
The company estimated that more than 100 million households provided their login credentials to people outside their home.
Under the new rules, US users can add a member outside their homes for an additional fee of $8 per month.
Their calculations seem to have paid off, as the company recorded almost 100,000 daily sign-ups on May 26 and 27, according to Antenna.
Netflix, which extended the extra charge to over 100 other countries, including Brazil, saw its four largest user acquisition days in the US after the change took effect in the 4.5 years that Antenna has been covering the company.
The recent peak also exceeded the levels observed during the initial COVID-19 lockdowns in the US in March and April 2020, according to Antenna, which gets data from third-party data collectors that track online purchase receipts, credit, debit and banking data details with permissions.