Netflix Gains Subscribers, Boost Revenue After Crackdown on Password Sharing

Published on April 19, 2024

Streaming giant Netflix’s crackdown on password sharing appears to be working for the company, which gained more than 9 million subscribers in the first quarter of this year and saw its profits soar, according to its latest earnings report published on Thursday. The Los Gatos, California-headquartered platform said it attracted approximately 9.33 million subscribers in the three months of 2024, far surpassing Wall Street’s expectations of 4.8 million net adds. Overall, the platform now has a total of 269.60 million paying subscribers globally, it said. Elsewhere, the company said its profits in the first quarter jumped to more than $2.3 billion, while revenue for the first quarter rose by nearly 15 percent year over year, to $9.37 million, beating Bloomberg consensus estimates of $9.27 billion....

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