Password Crackdown Boosts Netflix Subs

Netflix reported second-quarter revenues of $8.2 billion and ended the period with 238.4 million subscribers, adding 5.9 million in the period.

The streamer implemented its new paid-sharing program in 100-plus markets in May. “Revenue in each region is now higher than pre-launch, with sign-ups already exceeding cancellations,” the company said.

“Now that we’ve launched paid sharing broadly, we have increased confidence in our financial outlook. We expect revenue growth will accelerate in the second half of 2023 as monetization grows from our most recent paid sharing launch and we expand our initiative across nearly all remaining countries plus the continued steady growth in our ad-supported plan.”

North American (U.S. and Canada) revenues hit $3.6 billion, with 1.2 million sub additions to reach 75.6 million. The streamer added 2.4 million subs in EMEA to reach 79.8 million, with revenues of $2.6 billion. LatAm added 1.2 million subs to reach 42.47 million, delivering revenues of $1.1 billion. AsiaPac revenues hit $919 million, with 1.1 million subscriber additions to reach 40.55 million.