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Netflix has managed to increase its number of subscribers in the second quarter of this year. The company has increased 8% of the total, which translates into almost 6 million accounts with a plan. According to the streaming platform, its strategy of preventing shared passwords would be working.
“The streaming company added nearly 6 million paying subscribers, an 8 percent increase, during the second quarter of 2023. The results confirm previous reports of third-party data that suggested the tighter restrictions were working.”reports Engadget.
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“Cancellation reaction was low and while we are still in the early stages of monetizationwe are seeing a healthy conversion of borrowing households to full paid Netflix memberships, as well as the adoption of our additional member feature”, the company states in a letter to shareholders.
However, this increase in subscribers is also due to other measures taken. “In addition to restricting account sharing, the company started offering ‘shared payments’, allowing subscribers to pay to add an ‘additional member’ to their account for $8 a month. That option is now available in more than 100 countries, according to Netflix.”, adds the medium.
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Likewise, Netflix is already putting another strategy in place by eliminating plans. “The company has also been simplifying its plans, confirming that canceled its $10 ‘basic’ plan in the US and UK after first removing the plan in Canada”, he assures.
In this way, the measures will continue to expand and soon all countries will have the restrictions. “Now, Netflix says it will continue to restrict password sharing in the few remaining countries where it hasn’t already., including India, Indonesia, Kenya and Croatia. The company notes that it will not offer its ‘additional member’ option in these regions, as it has already reduced prices in many of these countries.”, he concludes.
Source: Elcomercio
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