Netflix: Profits soar after password sharing crackdown - eviltoast
The streaming giant said it added 9.3 million subscribers in the first three months of the year.

Netflix says its profits have soared in the first three months of this year, partly thanks to a crackdown on password sharing.

The streaming giant said it added 9.3 million customers in the first quarter, bringing its total number of subscribers to almost 270 million.

The company also said its profits in the first quarter jumped to more than $2.3bn (£1.85bn).

But the firm will stop reporting key subscriber numbers from next year.

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Some investors saw its unexpected decision to stop reporting subscriber numbers as a sign that Netflix’s wave of customer growth may be coming to an end.

Simon Gallagher, a former Netflix director and now principal of entertainment investment firm SPG Global, told the BBC’s Today programme that while the numbers indicated a “very, very strong performance” this might not last.

  • CptEnder@lemmy.world
    3·
    7 months ago

    Their sign up for password sharing is extremely aggressive too. Once you login to your TV it forces you to see the plan information without any option to say no or skip, regardless if you’ve shared your account before. You then have to select the other non default option to opt out. IF you accidentally hit ok after frustratingly trying to leave the prompt you get auto billed for the new fee zero confirmation of CC or purchase information. You then immediately have to enter the cell number of who you want to share with without letting you leave or go back. They want that person’s info regardless if you plan to share or not.