Netflix Shares Surge 13% After New Password Sharing Crackdown 🔓

Netflix's recent decision to crack down on password sharing in the US and more than 100 other countries has led to a significant increase in new subscriptions. The move forces users sharing an account outside their household to pay an additional $7.99 per month, with limits imposed on the number of extra members that can be added to an account. The four-day period following the announcement saw more new US subscriptions than any comparable period since Antenna began collecting data in 2019. This development has boosted Netflix's shares by around 13% since the policy was enacted on May 23. The company previously identified password sharing as a significant issue in 2019, undermining its ability to invest in the platform and grow the business.