Netflix subscriptions in the US remain high, despite a decline from the record set in June, following the company’s implementation of measures to limit password sharing, in effect since May.
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The task of attracting new subscribers and retaining old ones has become challenging in recent years, as consumers have a myriad of options at their disposal, including streaming service Disney, Disney+, Amazon’s Prime Video and Max. Warner Bros Discovery’s Apple, among others.
Wall Street had expressed concern that password sharing could impact subscriber growth. However, Netflix’s crackdown has managed to reinvigorate user addition.
According to Antenna, the gross number of subscribers added to the streaming company fell 25.7% in July compared to the previous month, after subscriptions more than doubled in June. However, July’s 2.6 million gross adds were still considered high compared to the usual average.
Netflix already announced plans to limit account sharing last year and was testing different approaches in some markets.
The company estimates that more than 100 million households have shared their login credentials with friends and family outside the home. This scenario led analysts to predict that around 50 million users would eventually create their own accounts.
About 23% of users who signed up in July opted for Netflix’s cheapest ad-supported plan — the highest percentage since the plan launched in November — up 4 percentage points from the previous month, it revealed. Antenna.
The research firm obtains streaming data from transaction records such as online shopping receipts and banking information.
The post Netflix: Ending Password Sharing Boosts Subscriptions first appeared on Olhar Digital.
Source: Olhar Digital
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