After prohibiting account sharing and launching more affordable plans with advertisements, Netflix experienced an increase in subscribers towards the end of the previous year.
The crackdown on password sharing, which began in several countries in May of last year, made it difficult for members of different households to use the same account.
It seems to be encouraging people to open their own accounts, as evidenced by the 13.1 million new global users the company added in the final three months of 2023.
Netflix increased its subscriber base for the third quarter in a row, surpassing the 8.8 million new users it added between July and September.
By the end of 2023, Netflix had over 260 million subscribers worldwide, an increase of almost 30 million each year due to the surge.
In sharp contrast, the company’s 2022 subscription growth of 8.9 million subscribers was lackluster, raising concerns about how it was handling the increasing competition for viewers.
However, Netflix reversed the trend by outlawing password sharing and introducing a new, inexpensive streaming plan that included advertisements for the first time.
According to Netflix, 40% of new users in the nations where it is available—including the US and the UK—now choose the least expensive plan.
The standard plan in the UK costs £4.99 a month with advertisements and £10.99 a month without them. The monthly premium plan is £17.99.
