Netflix gaining 6 million subscribers amid account-sharing

Netflix has climbed to almost 6 million subscribers after the password sharing crackdown.

“We’re seeing healthy conversion of borrower households into full paying Netflix memberships as well as the uptake of our extra member feature,” Netflix has stated.

The streaming service have announced that they earned a profit of USD 1.5PHP 88INR 127EUR 1CNY 11 billion. Their revenue, however, is lower than expected with Netflix having USD 8.2PHP 481INR 695EUR 8CNY 60 billion in sales from April to June.

Netflix has introduced having “shared” accounts which allows users to add extra profiles for a higher price. Around the same time, Netflix has removed their ad-free basic plan that had a price tag of 10 dollars per month in the US.

“Building an ads business from scratch isn’t easy and we have lots of hard work ahead, but we’re confident that over time we can develop advertising into a multi-billion dollar incremental revenue stream,” according to the streaming service.