Those forecasting the downfall of Netflix due to the password-sharing crackdown that the streamer introduced in May appear to have been wrong, according to new data from Bloomberg Second Measure. Instead of the company shedding users, Netflix’s new subscriber count grew 236% between the week ending on May 21 and June 18 of this year.
Further, the streamer’s new subscriber count was up 204% for the week ending June 25 versus the week ending May 21, which is days before Netflix’s crackdown went into effect in the United States. Netflix announced the password-sharing crackdown in 2022 after citing password sharing as one of the main factors behind its slowing growth.
Bloomberg Second Measure’s report on the apparent success of Netflix’s password sharing crackdown—in that it has led to more new subscribers, not fewer—comes just before Netflix is expected to announce its second-quarter earnings on July 19. It’s likely that Netflix will then officially announce how its crackdown on password sharing has impacted its user numbers and revenue.
Bloomberg Second Measure isn’t the only firm to say Netflix’s password sharing crackdown in the United States is working. In June, subscription analytics firm Antenna released a report stating that in the days following the May 23 crackdown, Netflix “had the four single largest days of U.S. user acquisition” since the firm began tracking subscriber numbers.
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