According to a new study by market research group Kantar, Netflix’s password-sharing crackdown cost Spain a million users in the first quarter of 2023. This translates to a decrease of about 15% of its total users.
The streaming platform introduced the new system in Spain in early February, asking users for a €5.99 monthly fee to share their passwords with other households. According to Kantar, this is directly linked to the decline in the number of users in the country.
Two-thirds of the one million users who log out of Netflix benefit from password sharing. One-third were actually paying for the account, meaning a loss of customers that negatively impacted revenue.
At the same time, the survey found that subscription cancellations nearly tripled in the first quarter of this year compared to the previous period. In addition, 10% of spain’s remaining customers plan to cancel their plans in the second quarter of 2023.
