Netflix enjoyed its biggest springtime spurt in subscribers since the early days of the COVID pandemic three years ago, providing the latest sign that a recent crackdown on password sharing and the rollout of a cheaper subscription option are paying off.
enjoyed its biggest springtime spurt in subscribers since the early days of the pandemic three years ago, providing the latest sign that a recent crackdown on password sharing and the rollout of a cheaper subscription option are paying off.
Investors seemed unsatisfied, perhaps rattled by management commentary in a shareholder letter warning that “quite a competitive battle” continues to unfold against the backdrop of ongoing strikes by both the writers and actors union in the U.S. that threaten to clog the pipelines feeding entertainment to streaming services. Netflix's stock price fell 8% in Wednesday's extended trading.
Netflix predicted its subscriber growth during the July-September period will be similar to the numbers posted from April through June.
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