The market share of Netflix, which is working to stop password sharing, has decreased. Netflix lost more than one million users in Spain in the first quarter of 2023, according to market research group Kantar.
Netflix lost over a million users
In early February, Netflix announced that it would charge an additional $6.57 fee for people who share their passwords with other users. The company, which came to the agenda with the technical measures it took to detect password sharing, drew the reaction of users.
Dominic Sunnebo, director of global insights for Kantar’s Worldpanel Division, said: “It is clear that this sharp decline was driven by pressure. We think it’s a huge blow to Netflix to lose a million users, even if most of them aren’t paid subscribers.” made statements.
According to Kantar’s research, subscription cancellations tripled in the first quarter compared to the previous period. One-tenth of all Netflix subscribers remaining in Spain said they plan to unsubscribe in the second quarter.
Password sharing measures were rolled out in Portugal, Canada, and New Zealand after being rolled out in several Latin American countries. In its first quarter earnings release on April 18, Netflix said, “We see a cancellation reaction in every market when we announce the news. In Canada, we experienced revenue growth with the start of the paid subscription sharing era.” said.
According to Netflix, more than 100 million people worldwide use an account they have not paid for. It should be noted that the company does not separate this data by country.