Netflix: Profits soar after password sharing crackdown

BBC News— The streaming giant said it added 9.3 million subscribers in the first three months of the year.

Los Angeles Times—Netflix's password-sharing crackdown is paying off as profits beat Wall Street's forecast. Netflix's victory lap as the leader in streaming continued Thursday, as the company said it increased its subscriber base by 9.3 million to nearly 270 million in the first quarter. Revenue was up 15% to $9.37 billion in the first quarter, the Los Gatos, Calif., streamer reported. Net income was $2.3 billion, compared with $1.3 billion in the same period in 2023. The company beat Wall Street's estimates on revenue, subscriber additions and net income. Analysts on average had projected that...

CP24—Netflix password sharing crackdown may have resulted in millions of new subscribers. Last year, Netflix made a particularly risky bet by pushing users who share passwords to create their own accounts — but it’s paid off. Netflix, the dominant player in streaming, added more than 9 million subscribers in the first three months of the year, hitting a record high of 269.6 million subscribers. “It added more subscribers than many analysts, myself included, expected,” said eMarketer senior analyst Ross Benes. “This signals that password sharing was even more common than...

Daily Mail—Netflix's password-sharing crackdown pays off! Streaming platform gains 9.3 million customers -. Netflix's password-sharing crackdown appears to be paying off as the company added another 9 million subscribers in the first quarter of this year, bringing the total to almost 270 million paid accounts.