Netflix has been implementing its password-sharing crackdown in South Africa. On Wednesday Netflix said that the crackdown move is having a positive impact on its revenues and subscription numbers in markets.
The streaming app will not be offering the option of adding extra members at a lower fee, which it offered the option in about 100 countries, representing some 80% of its revenue base.
“In May, we expanded paid sharing to over 100 countries, which account for over 80% of our revenue,” Netflix said.
Netflix shared in its second quarter results of 2023, that its revenue had increased in each region where it started limiting accounts to single households, with new sign-ups surpassing the cancellations.
“Revenue in each region [where password sharing has been restricted] is now higher than pre-launch, with sign-ups already exceeding cancellations,” Netflix said in a letter to shareholders.
