Netflix revenue – pressnews

[ad_1] 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. The pickup in subscribers came as a potentially crippling writers and actors strike hits the US entertainment industry, but with analysts saying Netflix is better positioned than its rivals to weather the storm. "We are constantly at the table negotiating with everyone across the industry," Netflix co-chief executive Ted Sarandos said during an earnings presentation. "We need to get to this strike to a conclusion so that we can all move forward." Revenue came in lower than e...

[ad_1] In 2017, Netflix Inc. tweeted that “love is sharing a password.” In 2023, Wall Street loves that the company has changed its tune.The video-streaming giant is cracking down on the ability of its users to share subscriptions across locations, a move that analysts say could push millions of borrowers to spring for their own plans. This strategy, along with the debut of a lower-cost tier with advertising, could keep user growth robust, supporting an extended rebound in the stock. “There are millions of people on shared accounts, and if you get a few bucks per month out of even a small percentage of them, that creates a huge recurring revenue base that can supplement current growth,” said Jamie Lumley, senior analyst at Third Bridge, who sees the crackdown as a “huge opportunity” for...