Netflix’s crackdown on password sharing has appeared to have backfired with the streaming giant experiencing a fall in subscribers for the first time since it launched in Australia in 2015.
ICYMI: Netflix started charging users for sharing passwords in an attempt to get more subscribers to their platform instead of having you leech off of your parents/siblings/housemates/exes account for the rest of eternity.
New data suggests that the opposite is the case though with users leaving the platform amid the rising cost of living.
The research firm Telsyte, has revealed data in their annual industry survey that shows that the number of Netflix subscribers has dropped three per cent to 6.1 million users in the last year.
That equals roughly 189,000 Aussies jumping ship and ditching Netflix in the last 12 months.
The changes to Netflix in regards to password sharing were announced in May, so that users in different homes or locations could no longer use the same Netflix account unless they paid the $7.99 a month ‘extra member’ fee.
The initial announcement was met with backlash from users, with many even threatening to cancel their subscription to the streaming service all together.
As per news.com.au, Mark Neilsen, who is a utilities writer and streaming broadband expert at Finder told the publication that the attempt by Netflix to crack down on password sharing in an attempt to increase subscribers had failed.
He also said the reason for many people cancelling subscriptions was due to added cost of living pressure and yeah, there’s a whole lot that Aussies are giving up lately amid rising prices.
“Our August survey found that 27 per cent of people had unsubscribed from a streaming service and of those, 44 per cent had done so to save money,” he told news.com.au.
Even despite the fall in subscribers though, Netflix is still the most popular choice for Aussies when it comes to choosing a streaming service.
According to Finder statistics, the average Australian spends $45 a month on streaming services, with their subscription prices gradually becoming more expensive over the years.
A monthly spend of $45 on streaming services seems bonkers to me, but maybe that’s because I am absolutely leeching of my housemates accounts. Please don’t tell Netflix.
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