STORY: Netflix’s move to end password-sharing appears to be paying off.
Daily sign-ups to the streaming giant’s U.S. service have soared since last month, when Netflix began cracking down on subscribers who share their passwords with people outside their homes.
That's according to research firm Antenna, which said nearly 100,000 new sign-ins were recorded over just two days - an astounding leap for a company that was losing subscribers in a saturated market and a tough economy.
Under the new rules, which went into effect May 23rd, U.S. users are charged $8 a month for adding a non-household member to their accounts - a drastic turnaround for a company that once tweeted, "Love is sharing a password."
After the policy change, Netflix saw its four largest days of U.S. subscriber growth in the 4-1/2 years that Antenna has been covering the company.
The spike also exceeded the surge in sign-ins that occurred during the initial U.S. lockdowns in March and April of 2020.
Shares of Netflix jumped in Friday trading following the report.