NFLX - Password Crackdown Is Fueling Strong Netflix-Subscribers Growth According to New Data
2023-08-24 05:41:00 ET
A lot has changed about Netflix (NASDAQ: NFLX) over the years. In the early days of streaming, users were encouraged to share the love -- and their password -- in the hopes of drumming up additional interest in the service. In 2017, Netflix posted on X (then Twitter), "Love is sharing a password."
The company is no longer feeling that love. Earlier this year, in the face of high penetration and slowing growth, Netflix had a change of heart. The company notified members that the service was only for use by members in their immediate household. It introduced paid sharing plans, which allowed subscribers to add people outside their household to their account for $7.99 more per month.
While there was the usual wailing and gnashing of teeth from users, the plan was wildly successful. Netflix had its greatest springtime subscriber spike in years -- and new data suggests there's more to come.
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Password Crackdown Is Fueling Strong Netflix-Subscribers Growth, According to New Data