Netflix reported a significant increase in summertime subscriber gains, surpassing industry analysts’ projections and indicating the success of its password-sharing crackdown in converting freeloaders into paying customers. The company added nearly 8.8 million worldwide subscribers in the July-September period, more than tripling the number gained during the same period last year. As part of its effort to increase revenue, Netflix announced a price hike for its most expensive streaming service and its lowest-priced, ad-free streaming plan. The company’s financial performance exceeded analyst forecasts, with a 20% increase in earnings and revenue climbing 8%.
Netflix’s Subscriber Gains Exceed Expectations, Surpassing Analyst Projections Despite Password-Sharing Crackdown
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