Netflix Subscriber, Earnings Growth Gather More Momentum As Password-Sharing Crackdown Pays Off

CBS Bay Area

July 19, 2024

Netflix's subscriber and earnings growth accelerated in its latest quarter as the video streaming service benefits from a crackdown on freeloading viewers, an expansion into advertising and an acclaimed programming lineup.

The results announced Thursday painted a portrait of a company still gathering momentum after a jarring decrease in subscribers during the first half of 2022 prompted a change in direction.

Netflix added 8 million subscribers during the April-June period, marking a 37% increase over the same time last year. It was the sixth consecutive quarter of that Netflix's subscriber gains have increased from the previous year, a trend triggered by the 2022 downturn that served as a wake-up call for the Los Gatos, California, company.

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