Netflix adds 6 million subscribers after password crackdown
Earlier in 2023, Netflix launched its strategy to block viewers from sharing passwords in a bid to bring in more money. With nearly 6 million new subscribers, the bet seems to have paid off. Netflix reported its biggest surge in paying viewers — nearly 6 million — since the early days of the pandemic, as its strategy to crackdown on password sharing pays off. The media streaming platform added 5.9 million subscribers in the second quarter and now has over 238 million paying patrons, it said in an earnings release on Wednesday. The company has been working to eliminate the practice of shared passwords between viewers since May, in an attempt to improve its profitability. It had earlier said that more than 100 million households were sharing Netflix accounts. "Let's face it, the crackdown on passwords is working," Navellier and Associates chief investment officer Louis Navellier said about Netflix's updated figures. "I was ecstatic with the results; I t...