Despite widespread criticism of its crackdown on password sharing Netflix on Wednesday reported an increase in subscriber numbers in the second quarter of 2023.
Despite widespread criticism of its crackdown on password sharing Netflix on Wednesday reported an increase in subscriber numbers in the second quarter of 2023.
How many new subscribers has Netflix gained?
While analysts initially expected Netflix to see an addition of about 1.7 million new subscribers in the second quarter, the company actually reported that a whopping 5.89 million new subscribers joined the service in the new quarter. Additionally, Netflix said in a statement (via Variety) that it expects Q3 23 numbers to be similar to those just announced.
“We expect paid net additions for the third quarter of 2023 to be similar to paid net additions for the second quarter of 2023,” the company said in a statement.
Netflix also announced that it had net income of $1.5 billion and operating income of $1.8 billion for the quarter.
Earlier this year, Netflix rolled out a password-sharing crackdown. It asked users to set a household location on their devices (per THR), asking non-household members to either transfer their profiles to a new Netflix subscription or have the primary account holder add a non-household member to their subscription.
According to Netflix in a statement on their websiteWhen people want to share a Netflix account with someone outside of their household, there are two options. The first is to transfer a profile to a new membership that the person is paying for. The second option is to purchase a non-household membership, which costs $7.99 per month. This allows non-household members to use the account. Netflix Standard plan users ($15.49 per month) can add a non-household member to the plan for $7.99 per month.