The first quarter of 2024 saw a steady growth in the number of Netflix‘s subscribers. This growth has been noticed after the aggressive crackdown on password sharing by the streaming giant.
Netflix’s global subscriber count stands at 269.6 million
The streaming giant’s global subscriber count now stands at 269.6 million as of March 2024. In the first quarter of this year, Netflix saw the addition of a staggering 9.33 million new subscribers. A move that has boosted the subscriber count of Netflix is its crackdown on password sharing. Through a report on Thursday, Netflix announced its latest victory surpassing all expectations of the market to a great extent.
In a letter to its investors, the company said “With more than two people per household on average, we have an audience of over half a billion people,” “No entertainment company has ever programmed at this scale and with this ambition before.”
An estimate shows that about 100 million individuals excessed Netflix through unauthorized account usage by using someone else’s accounts for free instead of directly subscribing to Netflix. To transition such customers into paying subscribers, Netflix has banned the practice of sharing passwords.
Other factors that has led to the increase in the number of Netflix subscribers
Recently Netflix has been working on ad supported streaming plans. This has also played a huge role in expanding the reach of Netflix thus attracting a broader and a greater audience base. The streaming plan supported by ads is more affordable and actively caters to the consumers who are cost conscious. This has helped Netflix to diversify the offerings of the streaming giant and promoting itself on the world stage. Netflix has now successfully proven itself to be the one stop for global entertainment.
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