‘Love is sharing a password’ was once a slogan of Netflix. But the time and economic pressure has changed that love. Now the meaning of love is: If you want to share it with someone, you have to pay extra.
This new policy of Netflix has been launched in the United States since last May. Many feared the ban on password sharing could backfire for the video streaming platform. But it didn’t happen. The expectation that Netflix had while stopped password sharing have been successful. Since the introduction of this policy, the company’s subscribers have been increasing steadily.
In an email to customers on May 23, Netflix said changes are coming to its password sharing policy. Customers are told, your Netflix account is for you and the people you live with – your family.
Under the new rules, Netflix users in the US can add a member outside the home for an additional fee of $7.99 per month.
Data provider Antenna’s statistics show that Netflix’s decision has paid off. The new policy has broken their daily maximum new subscriber record four times since the new policy came into effect. Out of this, the platform got about one lakh new customers on the last two days of May 26 and 27.
The platform has been adding an average of 73,000 new customers per day since the ban on password sharing, which is almost 102 percent higher than the previous 60-day average. The company’s share price was also recently seen rising by 2.3 percent on the new policy.
