Netflix expands strongly despite crackdowns on password sharing

Netflix is experiencing unprecedented growth, adding 5.89 million subscribers in the second quarter of 2023, surprising experts who had estimated a maximum of +2.2 million new subscribers.

The streaming giant’s Q2 profits also exceeded predictions, with quarterly earnings per share at $3.29, compared to the estimated $2.86, resulting in a net income of $1.488 billion.

Additionally, Netflix seems to be benefiting from its crackdown on password-sharing, as a significant number of users are now opting to purchase their subscriptions.

On May 26 and May 27, 100,000 users daily registered to Netflix, marking the four largest days of U.S. user acquisition in the streaming giant’s history.

Currently, Netflix leads the streaming competition with 238.39 million subscribers.

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