Netflix grows robustly despite password-sharing crackdown

Netflix is growing at an unprecedented speed, as 5.89 million subscribers entered the streamer fold in the second quarter of 2023.

The growth has stunned the experts as Wall Street had estimated a maximum of +2.2 million subscribers would join the streamer, according to Axios.

On the other hand, the Q2 profits of the streaming giant also outnumbered the predicted figures.

The quarterly per-share basis earnings were $3.29, compared to an estimated $2.86, leading to a net income of $1.488 billion.

In other news, Netflix seems to gain from its global crackdown on password-sharing as users in droves lined up to buy the streamer's subscription.

According to Antenna, a research firm, tracking the streaming giant statistics has revealed that 100,000 daily registered to Netflix on May 26 and May 27.

The report also highlighted the streamer has experienced "the four single largest days of U.S. user acquisition" since the streaming data analyst started measuring Netflix four and a half years ago.

Currently, Netflix leads the streaming war with 238.39 million subscribers.