Shares of Netflix (NASDAQ:NFLX) experienced more than 2% gain on Friday, further boosting its recent progress, following a report from The Wall Street Journal. The report stated that the company’s new stance on password sharing in the US has led to a considerable increase in subscribers.
Based on data from Antenna, Netflix saw an unparalleled four-day surge in new US subscriptions right after it introduced password-sharing restrictions in the US and other markets. The recent rise in subscriber numbers points to the success of Netflix’s anti-password-sharing strategy.
As part of the new policy, users sharing an account beyond the same household will have to pay an additional $7.99 monthly. The extent of additional members a customer can add to their account is also now restricted, based on their subscription tier.