- Cowen analyst John Blackledge said Netflix Inc's (NASDAQ:NFLX) new password sharing tests in three Latin American countries could yield a long-term revenue opportunity.
- Cowen's monthly survey of 2,500 U.S. consumers suggested that 42% of U.S. users share a Netflix password leaving Netflix well-positioned to pursue ways to monetize these subscribers.
- Also Read: Netflix Tests If It Can Monetize Password Sharing: What You Need To Know
- If Netflix's test worked and the company rolled the program out globally, it could add $1.6 billion in global revenue, or 4% upside to Cowen's 2023 estimates.
- Blackledge has an Outperform rating on Netflix.
- Price Action: NFLX shares traded lower by 1.80% at $376.02 on the last check Wednesday.
