Netflix: Netflix had made a new rule last year, after which its users are not able to share the password of their Netflix profile with any other user. Netflix has benefited a lot from this trick. According to a latest report, Netflix has added 9.33 million new subscribers to its platform in the first quarter of 2024.
Netflix got huge benefits
This clearly shows that due to the ban imposed by Netflix on password sharing, the number of their global users has increased. Before this, Netflix was facing a lot of loss, due to which after thinking for many years, the company had banned password sharing, after that aggressive action, the company has benefited so much.
A report was presented on Thursday, which revealed more than 9 million global users associated with Netflix. As of March, the number of global subscribers of Netflix has reached 269.6 million users.
“We have nearly half a billion people, with an average of more than 2 people per household,” the company said in its letter to investors. The company further said that no entertainment company has ever produced programs on this scale and with this ambition.
Millions of users used Netflix for free
According to a report by Netflix, before password sharing was stopped, about 100 million people used to watch content using the Netflix account of other users. Instead of purchasing Netflix subscription, these users used to watch web series and videos for free from the accounts of other users. This caused a lot of loss in Netflix’s revenue. For this reason, Netflix decided to ban password sharing and it has benefited them tremendously.
Now Disney Plus has also decided to take a similar step. Disney is also going to ban password sharing on its platform. This OTT platform has decided to ban password sharing in some countries from June. Now it remains to be seen whether Disney also benefits from this move like Netflix or not.
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