Back in May, Netflix officially announced that it would be cracking down on users for password sharing. Since the news, the streaming giant has defied expectations, seeing sign-ups for Netflix skyrocket.
Sine the crackdown, Netflix has now reported a record subscription growth, despite recently announcing its controversial sharing policies. In a recent report from Variety, the publication reports that U.S. sign-ups are at its highest levels in the last four years. Based on the most recent data from Antenna, Netflix has averaged daily sign-ups of up to 73,000 between May 25-28, which is a 102% increase from the previous 60 days. This number is more of an uptick in subscribers as recorded during the pandemic lockdowns in 2020.
While sign-ups have increased, so have cancellations, which Netflix has warned investors about. The ratio of sign-ups to cancellations have increased 25.6% compared to the previous 60-day period. Netflix’s reforms have involved a stricter definition of a user on its platform. In a statement, Netflix explained, “Your Netflix account is for you and the people you live with – your household.” The positive news in sign-ups comes just shortly before Netflix prepares for its annual global fan event in São Paulo, Brazil: Netflix Tudum on June 17. Just recently, Netflix launched the trailer for The Witcher Season 3, also known as Henry Cavill’s farewell to the franchise.
In other entertainment news, Mark Ruffalo is set to star in a new law enforcement drama on HBO.
