Netflix’s crackdown on passwords sparks a surge in sign-ups

Netflix experienced a surge in sign-ups at the end of last year as customers created their own accounts in response to the company’s crackdown on password-sharing. The streaming giant added over 13.1 million subscriptions in the last three months of 2023, marking the highest number of new sign-ups for any quarter since 2020. Netflix plans to raise prices and expressed confidence in its growth trajectory. Many new members opted for the company’s cheapest plan, even though it includes advertisements. This is a significant shift for Netflix, which had resisted selling ads for years. The company also announced a 10-year, $5 billion deal to bring WWE Raw to its platform. Despite the success of its advertising plan, Netflix does not expect advertising to contribute significantly to its growth this year. The company reported over $33.7 billion in revenue in 2023, a 6% increase from the previous year.