Netflix Earnings: Streamer Wins With Password Crackdown, Adds 5.9 Million Subscribers

, last fall, and the timing was ideal. Inflation has prompted many families to cut back on extras like entertainment, such as going from four streaming services to one or two. The lower-priced Netflix option became attractive. It now has a reported 5 million subscribers.But it was clearly the password crackdown that had the biggest impact on this quarter’s unexpected growth.

Netflix phased in the crackdown slowly. It rolled out in countries beyond the United States first, allowing the streamer to troubleshoot it as well as inform people in other places that this was coming. The new policy launched in May in the United States. It allowed people to buy an extra membership on their own account for former “sharers” at a reduced price of $7.99 per month. “A Netflix account is for use by one household. Everyone living in that household can use Netflix wherever they are — at home, on the go, on holiday — and take advantage of new features like Transfer Profile and Manage Access and Devices,” the company said in its May 23 update about the password sharing rules.

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