Analysis: Netflix password crackdown still boosting subs
August 24, 2023
By Colin Mann
Analysts at insights firm Antenna have sought to establish whether the spike in Netflix sign-ups they observed immediately following the company’s password sharing crackdown that started rolling out in the US in late May 2023 has continued.
“In a word, yes,” asserts Brendan Brady, Content Strategy Associate at Antenna, noting that Netflix commanded 2.6 million Gross Adds in July 2023, which is overall elevated compared to normal, but represents a -25.7 per cent dip from its record breaking June 2023. For the second month in a row, Netflix led the category with nearly one in five Premium SVoD Gross Adds.
Some 23 per cent of Netflix sign-ups went to its ad-supported plan, +4pts compared to June 2023, and the highest portion of sign-ups since the launch of that plan in November.
“And with Netflix no longer offering the Basic ad-free plan to new and returning subscribers in the US, we’ll be interested to see how this impacts the composition of Netflix subscriptions and sign-ups overall in the coming months,” concludes Brady.