Netflix ends password sharing; subscribers count increase
A burst of people subscribed to Netflix this spring after the streaming firm ended password sharing.
The streaming giant ended June with around 238 million subscribers, adding 5.9 million users since March.
Subscribers of Netflix increase after a crackdown on password sharing:
That was bigger than anticipated and follows steps by the firm to re-ignite growth following unusual member losses last spring. It is even facing challenges from abiding strikes in the US by writers and actors.
Netflix said it would do less on content this year than anticipated due to the walkout – the industry’s most significant in sixty years while boss Ted Sarandos said, “We need to get this strike to a conclusion”.
“This strike is not an outcome we wanted,” he stated. He said the business was dedicated to reaching an “equitable” pact that allowed the industry to move into the future.
But he continued: “We’ve got a lot of work to do.”
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Netflix has been grappling with a sharp deceleration in growth since the outbreak, as competition heats up, families wrestle with rising prices, and it reaches what critics see as a saturation point in a few of its biggest markets.
In the first half of the previous year, it shed around 1 million users. Though it after more than made up those losses, the falls shook the firm and sent it scrambling to shore up its growth prospects.
Netflix said new options attracted consumers it has raised that cost less than a standard subscription.
The firm introduced its “paid sharing” programme in the UK, US and other leading markets in May, demanding an extra cost if users want to share passwords with people outside their families.
In the UK, it asks a little less than half of the £10.99 price of a standard subscription.
