In a January 2023 convention name, Netflix CEO Greg Peters expressed concern that there might be a cancel response to the crackdown amongst subscribers. That concern seemed to be nicely based when a “#CancelNetflix” hashtag began trending, adopted by a Jefferies survey the place 62% of password sharers mentioned they might cease utilizing the streaming service earlier than they might open their very own account.
Based on Antenna, cancellations did improve, however not practically as a lot as new sign-ups. Actually, the ratio of sign-ups to cancellations grew greater than 25% versus the prior two-month interval. Moreover paying $7.99 per 30 days for added profiles exterior the family, account holders have been additionally given the choice of transferring the Netflix profile of a password-shared member to start their very own unbiased subscription.
The streaming big seems to be optimistic in regards to the penalties of the stricter Netflix password sharing coverage, with a number of analysts elevating their year-end value goal for shares of the corporate. Netflix inventory is already up roughly 40% year-to-date.