earlier this year, Netflix revealed his plan to crack down on Password share. A lot of Netflix users created an account and shared the password with their friends/family. This obviously affected the number of Netflix subscribers as well as the revenue of the company. Netflix’s password sharing crackdown seems to have paid off, as the company’s quarterly results reveal. Referring to the countries where the paid sharing feature was launched, the company said, “Revenue in each region now exceeds pre-launch, with sign-ups already exceeding cancellations.” Netflix said paid net additions were 5.9 million in the second quarter.
Payment sharing is rolling out in other countries
Netflix has confirmed that it is launching paid sharing in almost all of the remaining countries. In May, the company launched paid sharing in more than 100 countries, representing more than 80% of its revenue base. India was not among the countries where this feature was rolled out, but now it looks like users will not be able to share passwords with others.
“Now that we have rolled out paid sharing more broadly, we have increased confidence in our financial outlook,” the company said in a statement. Netflix believes its revenue growth will accelerate in the second half of 2023 as “monetization grows from our most recent paid sharing launch and we expand our initiatives to nearly all remaining countries as well as our ad-supported Let’s continue to grow steadily in the plan.”
Netflix said that “response to cancellations was low” and that although it is still early stages, it is seeing a “healthy conversion of borrowers”.
Families will also enjoy a full paid Netflix subscription as well as the benefit of our Extra Members feature.”
It was quite common for Netflix users to share passwords and the company has gone to great lengths to ensure that users don’t do so anymore.
Payment sharing is rolling out in other countries
Netflix has confirmed that it is launching paid sharing in almost all of the remaining countries. In May, the company launched paid sharing in more than 100 countries, representing more than 80% of its revenue base. India was not among the countries where this feature was rolled out, but now it looks like users will not be able to share passwords with others.
“Now that we have rolled out paid sharing more broadly, we have increased confidence in our financial outlook,” the company said in a statement. Netflix believes its revenue growth will accelerate in the second half of 2023 as “monetization grows from our most recent paid sharing launch and we expand our initiatives to nearly all remaining countries as well as our ad-supported Let’s continue to grow steadily in the plan.”
Netflix said that “response to cancellations was low” and that although it is still early stages, it is seeing a “healthy conversion of borrowers”.
Families will also enjoy a full paid Netflix subscription as well as the benefit of our Extra Members feature.”
It was quite common for Netflix users to share passwords and the company has gone to great lengths to ensure that users don’t do so anymore.