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Netflix’s profit soar following password sharing

Netflix reported a big profit increase this year, partly because of cracking down on password sharing.

Netflix's profit soar following password sharing

They gained 9.3 million new subscribers, reaching almost 270 million in total. Their profits rose to over $2.3 billion in the first quarter.

Revenue for the first quarter increased by almost 15%, reaching $9.37 billion. Netflix credited the success to popular shows like Griselda.

Netflix's profit soar following password sharing

 

Some experts worry that Netflix’s growth might slow down soon. They think the crackdown on password sharing is boosting profits for now, but it might not last long.

Netflix has been focusing on original content to keep subscribers interested. They’ve also raised their prices and are considering new plans with ads to keep growing.

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