Alberto Lejarraga
NETFLIX has lost a whopping one million users in Spain since it decided to put an end to account sharing last February.
The figures come from the first quarter of 2023.
The streaming platform asked all its subscribers to confirm their permanent address, ending access to those entering the account from a different location.
Two thirds of the lost users were using a shared password, according to a study carried out by the company.
Customers wanting to keep sharing their accounts need to pay an extra €5.49 a month per ‘guest’.
The new strategy has come after Netflix acknowledged that there were over 100 million households in the world sharing an account.
The streaming company believed this was not financially sustainable in the long term.
Netflix has reported overall profits of €1,189 millions in the first three months of 2023.
This is an 18% reduction compared to the same period last year.
However, the platform has gained 1.75 million new subscribers during this year’s first quarter, making the total number 232.5 million worldwide.
Read more:
- Why Netflix users in Spain will no longer be able to share their passwords with friends and family
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- Streaming giant Netflix signs ground-breaking deal in Spain
