Netflix on Wednesday said subscriptions to the media streaming service climbed by nearly 6 million in the wake of its crackdown on password sharing.
The streaming giant finished the recently ended quarter with a total of 238 million subscribers and a profit of $1.5 billion, according to an earnings release.
Netflix in May expanded its crackdown on users sharing passwords with people beyond their immediate family as it seeks to shore up revenue after a rough patch last year. To convert non-paying users, Netflix has introduced "borrower" or "shared" accounts, in which subscribers can add extra viewers for a higher price or transfer viewing profiles to new accounts.
Benes estimates that Netflix will generate $770 million in advertising revenue in the US this year, and more than $1 billion by 2024. "The share price is down a bit after market; there is worry they will run out of content because of the Hollywood strike," Navellier told AFP.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US-based airline firm launches non-stop flight from San Francisco to ManilaUNITED States-based United Airlines (UA) is launching a nonstop flight to the Philippines this October, according to the airline company and the Ninoy Aquino International Airport (NAIA) in separate posts on their social media pages on Wednesday.
Read more »
United flying Manila-San Francisco nonstop this OctoberUnited Airlines (UAL) starts new daily nonstop flights from Manila (MNL) to San Francisco (SFO) this October 30, Eastbound, subject to government approval, the carrier announced Wednesday, July 19.
Read more »
Netflix adds 6 million subscribers after password crackdownSan Francisco, United States — Netflix on Wednesday said subscriptions to the streaming television service climbed by nearly 6 million in the wake of its crackdown on password
Read more »
Stanford University president announces resignation over concerns about his researchThe president of Stanford University said he would resign, citing an independent review that cleared him of research misconduct but found “serious flaws” in five scientific papers on subjects such as brain development in which he was the principal author.
Read more »