Now, Netflix finds itself trying to bounce back from a growth slowdown amid stiff video streaming competition and inflationary pressures that have caused many households to clamp down on spending, especially on discretionary items such as entertainment.Īs an antidote, Netflix last year introduced a low-priced option that includes commercials and then began to block the rampant sharing of passwords that has enabled an estimated 100 million people worldwide to watch its TV series and films for free.įreeloading viewers are now being required to open their own accounts unless a subscriber with a standard or premium plan agrees to pay an $8 monthly surcharge to allow more people living in different households to watch. In 2020, people were still largely stuck at home and looking for ways to keep themselves entertained while governments around the world struggled to find a way to contain the spread of pandemic. The performance marked Netflix’s biggest springtime jump since the Los Gatos, California, company gained 10 million subscribers during the same period in 2020 when under dramatically different market conditions. Netflix ended June with 238.4 million worldwide subscriber. You can watch as much as you want, whenever you want all for one low monthly price. The gains easily surpassed the roughly 2.2 million additional subscriber that analysts surveyed by FactSet Research had anticipating. Netflix is a streaming service that offers a wide variety of award-winning TV shows, movies, anime, documentaries, and more on thousands of internet-connected devices. The video streaming service added 5.9 million subscribers during the April-June period, according to numbers released Wednesday along with its latest quarterly financial results. SAN FRANCISCO - Netflix 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 version of its video streaming service are paying off.
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