Looks like Netflix’s crackdown on password sharing is paying off already…for the company, at least. Netflix has reported 5.9 million new subscribers to the service in the most recent quarter, during which it rolled out paid sharing in over 100 countries and imposed new rules preventing password sharing outside of single households.
In Netflix’s Q3 earnings today, it highlighted that revenue in each region where paid sharing had been implemented was now higher than it was prior to the launch of the feature, and that sign-ups have already exceeded cancellations. It’s a win the company is proud to tout after it warned that its subscriber numbers may initially fluctuate in light of the change. Now, however, Netflix is projecting its subscriber numbers will continue to rise into the next quarter at a similar rate to this one.
Netflix subscriber numbers have been steadily on the rise since the same time last year, when the company suffered a loss of roughly one million subscribers.
In addition, Netflix reports revenue of $8.2 billion for the quarter, and expects that to accelerate in the coming quarters as it rolls out paid sharing to the remaining countries and continues to grow its ad-supported tier. Just this morning, Netflix killed off its cheapest ad-free plan in the UK and the US, effectively pushing those subscribers either to sit through ads, or pay for a more expensive tier.
Netflix will hold a conference call later today to discuss the earnings.
Rebekah Valentine is a senior reporter for IGN. You can find her on Twitter @duckvalentine.
For all the latest Games News Click Here
For the latest news and updates, follow us on Google News.
