 "Netflix")
Streaming giant Netflix garnered nearly 100,000 new daily sign-ups just days after it started to crack down on password sharing.
According to market research firm Antenna, since alerting subscribers in the US that it would begin to curb password sharing on May 23, Netflix has had the four single largest days of user acquisition.
"Based on the most current data available, Netflix saw nearly 100,000 daily sign-ups on both May 26 and May 27," the report mentioned.
Average daily sign-ups to Netflix reached 73,000 during that period, a more than 102 per cent increase from the prior 60-day average.
Netflix also witnessed an increased number of cancellations after its crackdown on password sharing.
However, the ratio of sign-ups to cancels since May 23 is up 25.6 per cent compared to the previous 60-day period, the report noted.
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Netflix last month started cracking down on password sharing and each extra member who can use the service outside your household will need to pay $7.99 extra each month.
The streaming giant announced its crackdown on password sharing beginning in the US.
The company said that a Netflix account is for use by one household.
"Everyone living in that household can use Netflix wherever they are -- at home, on the go, on holiday -- and take advantage of new features like Transfer Profile and Manage Access and Devices," the company informed.
Those who pay for the Netflix Premium package with 4K streaming have the option of adding up to two extra members, but each one will still cost another $7.99.
Netflix in the UK will charge subscribers 4.99 pounds each month for each extra member.
The cheapest plans (Basic or Standard with Ads, which cost $9.99 and $6.99 per month, respectively) don't have the option to add extra members at this moment.
The streaming giant experimented with paid password-sharing in Canada, New Zealand, Portugal and Spain in February.
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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
