Despite a crackdown on password sharing, Netflix got 2.6 million additional users in July
Netflix, a major streaming service, added 2.6 million additional paid customers in the US during the month of July, despite the crackdown on password-sharing. Netflix garnered 2.6 million gross ads in July, which is often higher than average, according to market research firm Antenna.
Yet another indication that Netflix’s paid-sharing rollout is effective, even though this number of customers is still lower than the June subscriber boom. From its record-breaking June, the corporation experienced a decline of more than 25%.
The Growth rate of Netflix
Additionally, according to the research, the ad-supported plan accounted for nearly 23% of new Netflix subscribers, up 4 percentage points from June 2023 and the highest share of new subscribers since the plan’s inception in November.
More than 100 countries, or more than 80% of its revenue base, saw the company introduce paid sharing in May. The second quarter (Q2) saw Netflix add 5.9 million customers globally, with 1.17 million of those coming from the US and Canada between April and June.
“Sign-ups have already surpassed cancellations, and revenue is currently higher in each region than it was before launch. In Q2 there were 5.9 million paid net additions, according to a statement from Netflix, which also noted that its campaign to stop password sharing is bearing fruit.
In the second quarter, there was an operating profit of $1.8 billion and revenue of $8.2 billion, up 3% over the same period last year. Revenue of $8.5 billion, up 7% from the previous year, is what the company anticipates for Q3.
