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Netflix is satisfied with the implementation of shared payment accounts carried out in the first quarter of the year, but has decided to delay its expansion to more countries to the second quarter, alluding to the “opportunities” they have found to “improve the experience for members” .
This is indicated by Netflix in the document for shareholders on the financial results corresponding to the first quarter of 2023. The initial intention was to continue its implementation in more countries in the first three months of the year.
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“We learn more with each release and have incorporated the latest learnings, which we believe will lead to even better results. To implement these changes, moved general release timing from late Q1 to Q2″, the company states.
The company insists that account sharing “undermines” their “ability to invest in and improve Netflix for paying members” and to build the business. In response to this situation, the deployment of the shared payment account began in the first quarter, when it was implemented in Canada, New Zealand, Spain and Portugal, after an initial test in Latin American countries including Peru.
“we see a cancellation reaction in each market when we announced the news, which affects the growth of members in the short term. But as borrowers start to activate their own accounts and existing members add additional member accounts, we see an increase in acquisitions and revenue.”, they explain from Netflix.
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They expect something similar to happen when they continue to expand shared payment accounts in the second quarter. “longer term” this type of subscription “will ensure a larger revenue base from which we can grow as we improve our service”, they trust from Netflix.
Source: Elcomercio
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