Netflix U.S. Signups Spike to Their Highest Level Ever Recorded Following Password-Sharing Crackdown

(Image credit: Netflix)

Antenna said that following its May 23 announcement that it would begin its password-sharing crackdown in the U.S., Netflix had its four biggest domestic signup days since the research company started keeping count of the SVOD's daily customer churn four and a half years ago. 

As this graphic, included in Antenna's report Friday reveals, daily Netflix signups in the U.S. even surpassed the frightful days following the COVID lockdown in March 2020, when consumers turned to video streaming in droves. 

Antenna said that Netflix had nearly 100,000 signups on May 26 and May 27, with enlistments averaging around 73,000 over the four-day May 24-28 period, a 102% spike over the previous 60 days. 

(Image credit: Antenna)

Last month, Netflix began emailing customers in the U.S. that it believes were sharing their account with individuals living outside their home. Netflix told these customers that they need to either eighty-six these non-authorized users from their account, or they need to start paying an additional $7.99 a month to support the "extra user."

Earlier this week, JP Morgan analyst Doug Anmuth issued an upbeat report suggesting that Netflix will successfully monetize 14 million non-paying account users globally in 2023, a count he expects will increase to 26 million by the end of 2024 and 33 million by the end of 2025. 

Also on Friday, Pivotal Research raised its end-of-2023 target on Netflix’s stock from $425 a share to an industry high of $535 a share.

Daniel Frankel

Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!