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Netflix Reports Blockbuster Earnings, as Password-Sharing Crackdown Leads to 5.9M New Subscribers

Netflix Reports Blockbuster Earnings, as Password-Sharing Crackdown Leads to 5.9M New Subscribers
Published 2 years ago on Jul 20, 2023

The company's password-sharing crackdown appears to be paying off, with the company reporting that "the cancel reaction was low." Netflix also announced that it will be expanding its paid sharing plan to "almost all" of its remaining countries.

In addition to its password-sharing crackdown, Netflix is also pushing its advertising-supported plan. The company axed its cheapest ad-free plan (called the "Basic" plan) earlier this week, pushing new or returning subscribers to either opt for its $6.99 ad-supported plan or its $15.49 standard ad-free plan.

Netflix is confident that its ad-supported plan will be a success, saying that "over time we can develop advertising into a multi-billion dollar incremental revenue stream."

The company's revenue growth and profit margins have become the envy of the industry, with legacy competitors like Disney, Paramount, NBCUniversal and Warner Bros. Discovery still bleeding cash as they try to make their own streaming services profitable.

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The company's password-sharing crackdown appears to be paying off, with the company reporting that "the cancel reaction was low." Netflix also announced that it will be expanding its paid sharing plan to "almost all" of its remaining countries.

In addition to its password-sharing crackdown, Netflix is also pushing its advertising-supported plan. The company axed its cheapest ad-free plan (called the "Basic" plan) earlier this week, pushing new or returning subscribers to either opt for its $6.99 ad-supported plan or its $15.49 standard ad-free plan.

Netflix is confident that its ad-supported plan will be a success, saying that "over time we can develop advertising into a multi-billion dollar incremental revenue stream."

The company's revenue growth and profit margins have become the envy of the industry, with legacy competitors like Disney, Paramount, NBCUniversal and Warner Bros. Discovery still bleeding cash as they try to make their own streaming services profitable.

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