Netflix Sees Spike in New Subscriptions to Record High after Password Crackdown Late May

Netflix has seen a huge surge in subscriptions since its crackdown on password sharing late May, according to the report by Antenna.

The streamer recorded two days of more than 100,000 signups for a single day of U.S. users since changing its policy, which was higher than the subscription during the Covid-19 outbreak that customers had to stay home due to the lockdown in 2020.

Average daily sign-ups to Netflix reached 73,000 during that said period, representing an increase by 102% from the prior 60-day average. Cancellation also increased during this period, but was offset by flooding in subscriptions.

Netflix reported its first subscription loss last year as customers chose to share passwords outside their home, causing the streamer to lose revenue.

Your Netflix account is for you and the people you live with — your household,” Netflix wrote in an email sent to existing customers to inform them of the policy changes.

However, some of those new signups are not paying the full subscription price as the package offers to customers to invite one or two extra members outside of their households to use its streaming services by creating their own account by paying an additional small amount for each extra member.