Netflix was feared to suffer from their crackdown on password-sharing. Yet reversely, the streaming giant grew exponentially after the policy’s rollout.
The streamer added 5.89 million subscribers in the second quarter of 2023, beating Wall Street’s forecasts of+2.2 million.
The Q2 profits, meanwhile, of Netflix also outgrew the expected numbers.
The quarterly per-share basis earnings were $3.29, compared to an estimated $2.86, leading to a net income of $1.488 billion.
In other news, Netflix seems to gain from its global crackdown on password-sharing as users in droves lined up to buy the streamer’s subscription.
According to Antenna, a research firm, tracking the streaming giant statistics has revealed that 100,000 daily registered to Netflix on May 26 and May 27.
The report also highlighted the streamer has experienced “the four single largest days of U.S. user acquisition” since the streaming data analyst started measuring Netflix four and a half years ago.
Currently, Netflix leads the streaming war with 238.39 million subscribers.