Since implementing its much-anticipated crackdown on password sharing in May, Netflix has seen a surge in new subscribers. Although this hasn’t immediately translated into substantial profits for Ted Sarandos and the company, the recent influx of 5.9 million subscribers in the last quarter has exceeded projections by an impressive four million, providing a significant boost to the streaming platform. Notably, this upward trend in subscriber growth is still on the rise. Recent data from research firm Antenna reveals that Netflix attracted an additional 2.6 million new subscribers in July.
These additional subscribers serve as further evidence that addressing unauthorized password sharing was a wise decision for Netflix, even though the momentum is showing signs of slowing down. The number of new sign-ups in July dropped by 26% compared to June, immediately following the implementation of the crackdown.
Adding to Netflix’s positive developments is the fact that a majority of the new July subscribers opted for the ad-supported tier. About 23% of these new sign-ups chose the $6.99 plan, marking a 4% increase from June. As the price gap widens between the ad-supported and $15.49 ad-free options, there are limited budget-friendly choices available for accessing the platform’s content.
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