Netflix 2Q23 Preview

Last month we shared a first look at how Netflix Sign-ups fared following the introduction of the password sharing crackdown here in the U.S. The company is set to report quarterly earnings for later this week, so we thought we’d take another look at how user acquisition has fared since then.

Antenna counted more than 3.5M Gross Adds for Netflix in June 2023, the largest month of acquisition we have ever measured for the service. Antenna has reported Netflix surpassing 1.5M Monthly Gross Adds in just two previous instances: May 2023 and December 2022. 

One out of every four Premium SVOD Gross Additions in June 2023 were for Netflix, a marked increase over previous months.

Netflix Cancels were also up in June, but at a much lower rate than Gross Adds. In fact, the June 2023 ratio of Gross Additions to Cancels for Netflix reached its highest level since early in the COVID lockdowns, in April 2020. 

With acquisition up, the share of new Sign-ups by Plan Type for Netflix remained stable. The Standard with ads plan accounted for between 17%-20% of new Sign-ups during the quarter.

For more detailed information on Antenna’s methodology and definitions of core metrics, please visit  

Brendan Brady is a Content Strategy Associate at Antenna, a measurement and analytics company providing insight into purchase behavior and subscription metrics across the new media landscape.