Jul 20, 2023

Netflix password crackdown fuels subscriber surge

A burst of people signed up for Netflix this spring, after the streaming giant cracked down on password sharing. The company ended June with more than 238 million subscribers, adding 5.9 million members since March. Netflix said customers were enticed by new options it has introduced that cost less than a standard subscription. Netflix said few people had cancelled as a result of the changes and it believed the programme would fuel growth in the months ahead. It has estimated that more than 100 million households share passwords in breach of its official rules. "While we've made steady progress this year, we have more work to do to reaccelerate our growth," Netflix said in its quarterly investor update.

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