Netflix Says Its Fight Against Password Sharing Is Working

Netflix Says Its Fight Against Password Sharing Is Working https://ift.tt/dujn7G2

In a recent Q2 2023 earnings interview for investors, Netflix announced the "success" of its paid account sharing initiative, now expanded to over 100 countries, accounting for more than 80 percent of its revenue. The crackdown, which started in the United States on May 23 and in several other countries in early February, aimed to address users sharing their Netflix passwords. Despite concerns, the company added 5.9 million subscribers in Q2, reaching a global total of 238.4 million, with only a limited number of cancellations resulting from the action.

"The cancel reaction was low and while we’re still in the early stages of monetization, we’re seeing healthy conversion of borrower households into full paying Netflix memberships as well as the uptake of our extra member feature," Netflix said in its letter to investors.

As the initiative expands, Netflix will tackle account sharing in nearly all remaining countries where the streaming service is offered, including Indonesia, Croatia, Kenya, and India.

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