Netflix noticed a surge in new subscribers on the finish of final 12 months, attributed partly to the streaming big bringing in a ban on password sharing.
The crackdown on password sharing, which began final Could in a variety of nations, hindered folks in numerous households from utilizing the identical account.
It seems to be having the specified impact of prompting folks to open their very own accounts – as the corporate added 13.1 million worldwide subscribers within the final three months of 2023.
It was the third consecutive quarter wherein Netflix boosted its subscribers, outstripping the 8.8 million subscribers gained within the July-September interval.
The surge left Netflix with greater than 260 million international subscribers on the finish of 2023, an annual improve of practically 30 million subscribers.
It was a stark distinction to 2022’s improve of 8.9 million subscribers – a lacklustre displaying that raised questions on how the corporate was dealing with rising competitors for viewers.
However Netflix turned the development round by way of its ban on password sharing and the rollout of a brand new low-priced streaming plan that featured adverts for the primary time.
Netflix stated the most cost effective plan now accounts for 40% of latest subscribers within the nations the place it’s provided, together with the US and UK.
Within the UK, the usual plan with adverts prices £4.99 a month; with out adverts it’s £10.99. The premium plan is £17.99 a month.
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In a name with analysts, Netflix co-chief govt Greg Peters predicted it will likely be a number of years earlier than promoting gross sales herald vital income.
However he instructed analysts Netflix stays assured it could persuade viewers who’re nonetheless getting across the password sharing ban to pay for their very own plans.
“That [crackdown] will enhance our development for years,” he stated.
Netflix additionally introduced on Tuesday it should carry the favored wrestling program, WWE’s Uncooked, to its platform.