Netflix Adds Nearly 6 Million Subscribers Amid Password Sharing Crackdown in Q2
Netflix Adds Nearly 6 Million Subscribers Amid Password Sharing Crackdown in Q2
Netflix reported second-quarter 2023 earnings Wednesday, revealing paid subscribers increased by 5.89 million in the quarter ended June 30. Analysts had projected the streamer gaining 1.769 million…
Netflix Adds Nearly 6 Million Subscribers Amid Password Sharing Crackdown in Q2::Netflix released its Q2 earnings results Wednesday, including its new subscriber tally.
The subscribers came from markets where they didn’t crack down on password sharing.
“While the company added subscribers, it said average revenue per member fell 3% from a year earlier. That was partly because many of the new sign-ups came in countries where Netflix charges lower prices.”
It’s no surprise that the majority of password sharing came from poorer countries (and thus, countries where Netflix is priced cheaper).
I doubt this move is going to generate as much long-term revenue as Netflix estimates. There are way more streaming platforms nowadays, with different pricing models that might appeal more to the demographic that was never willing to pay for Netflix.
That, or piracy will become popular again (which is good for seeder ratios, which have dwindled over the last 10 years).
I can see more people rotating their subscriptions with all this nonsense. Subscribe to Netflix for a month to catch up on whatever, drop it and use Disney Plus for a month to catch up on Star Wars shows, drop it and go to Max for a month, etc. But it wouldn’t surprise me if they’ll start fighting that next. Witcher already split their season across two months - probably just to squeeze two payments out of viewers.
If there was an app that made it as easy as tapping a switch to on/off each subscription, then I might not set sail. Piracy is mostly about convenience after all, and juggling subscriptions is not convenient.
Could be people using VPNs to sign up with the lower prices as well, which may have risen due to the password crackdowns.
Now subtract from that bundled services like how tmo has Netflix as a perk for their plans.
This strategy still seems very shortsighted. It was apparent that subscriptions would increase in the early days of password sharing restrictions, but once people realize they are paying a premium for a dwindling catalog of quality content and mediocre originals, these figures are likely to drop sharply.
But hey, the investors are shortsighted anyway and don't really care about sustainable growth when they can just pump and dump.
Ngl, after using netflix for so many years, the withdrawal symptoms for my partner (and admittedly myself too) was real when we first got cut off from the family account, but I was adamant on not signing up for a separate account. Turns out you can get around it by using Netflix on PC (and mobile) instead, so hooking up my old laptop to the TV was what we did. I ended up setting up Stremio and Kodi on the PC too and now find ourselves hardly using Netflix anymore.
Cool. They're still not going to get another cent out of me though.