Netflix: Profits soar after password sharing crackdown - BBC News

The streaming giant said it added 9.3 million subscribers in the first three months of the year.

5 hours agocommentsCommentsShareclose panelShare pageCopy linkAbout sharingImage source, NetflixImage caption, Sofía Vergara played Griselda Blanco in the six-part Netflix seriesBy Mariko Oi & Natalie ShermanBBC NewsNetflix says its profits have soared in the first three months of this year, partly thanks to a crackdown on password sharing.

The streaming giant said it added 9.3 million customers in the first quarter, bringing its total number of subscribers to almost 270 million.

The company also said its profits in the first quarter jumped to more than $2.3bn (£1.85bn).

But the firm will stop reporting key subscriber numbers from next year.

Announcing the decision, the firm said in a letter to shareholders: "In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential".

https://www.bbc.co.uk/news/business-68850766

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