Netflix recently made a concerted effort to try and crackdown on password sharing earlier this year and it looks like it paid off.
Variety reported that Antenna — a research company — said that Netflix's password crackdown has resulted in an increase in subscribers. The new regulations were introduced on May 23 and required that any accounts living outside of their households had to either become an “extra member” or pay for their own subscription. Adding an “extra member” to an account would cost an additional $7.99/month. Netflix then saw four of the largest days of U.S. sign-ups since early 2019, which is when Antenna first began measuring this.
According to Antenna, Netflix's average daily sign-ups from May 25-28 was 73,000 — which is an increase of 102%. Granted, at the same point, the number of subscription cancelations also increased over this period. However, the number was still less than the number of new sign-ups. It's also important to note that Netflix recently added an ad-supported plan for those looking for a cheaper alternative to their service.
Netflix is one of the biggest streaming services out there, and considering the dough they put into some of their films like Red Notice, The Adam Project, etc., it's not hard to see why they may want to maximize profits. Coming up, the streamer has a wide range of original films coming including Extraction 2 — the new action sequel led by Chris Hemsworth, Bird Box: Barcelona, and later this year, Zack Snyder's Rebel Moon. They also have a ton of series coming up including All the Light We Cannot See.