Netflix Gains Nearly 6 Million New Subscribers Amidst Password Sharing Crackdown

According to Netflix’s letter to shareholders, the push to stop password sharing has not resulted in widespread cancellations. Instead, it has encouraged more users to sign up for their own accounts. The company stated, “The cancel reaction was low, and while we’re still in the early stages of monetization, we’re seeing healthy conversion of borrower households into full paying Netflix memberships as well as the uptake of our extra member feature.”