Netflix Inc. saw a big bump in new subscribers in the US after it began warning customers that it will limit account sharing, according to a new report from the research firm Antenna.
(Bloomberg) — Netflix Inc. saw a big bump in new subscribers in the US after it began warning customers that it will limit account sharing, according to a new report from the research firm Antenna.
The streaming TV leader averaged more than 70,000 new customers a day in the four days after it began telling customers they could no longer share passwords on May 23, according to data from Antenna. On two of those days, new sign-ups topped 100,000 in the US.
New customer acquisitions doubled over the four days when compared with the prior 60-day average, Antenna said. It was the best performance since Antenna began compiling the numbers four and half a years ago. Cancellations also increased, although not as much as sign-ups. The firm collects data from a number of sources including credit-card receipts and online purchases.
Read more: Netflix Begins Charging US Customers Who Share AccountsÂ
Netflix has been taking steps to boost revenue after seeing its subscriber growth slow last year. It introduced a cheaper, advertising-supported version of its product in November, and also began cracking down on password sharing.Â
Netflix estimates that as many 100 million households use its service without paying globally. The company tested ways to limit password sharing in Latin America before rolling out the program in more countries, including Spain and Australia.
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