Netflix is Back? 📺

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Netflix is Back?

Netflix has pulled off an astonishing feat, exceeding all expectations by adding 6 million subscribers in just three months. This surge, more than double what analysts had predicted, can be attributed to the company’s strategic crackdown on password sharing. After suffering a subscriber decline last year, Netflix took decisive action. Two key steps were introduced: a cheaper ad-supported version of its service and a crackdown on password sharing, a practice they had previously ignored during periods of rapid growth.

The crackdown, initiated in the US, UK, and over 100 other countries, requires customers to pay a nominal fee to share their accounts outside their households. Surprisingly, the response from subscribers has been relatively mild, resulting in a significant influx of new users.

Though their quarterly revenue rose by 3 percent to $8.2 billion, it narrowly missed expectations of $8.3 billion. However, Netflix remains profitable, setting it apart from rival streaming services like Disney+ and Paramount Plus, which are still grappling with losses. Despite a dip in subscribers last year, Netflix’s shares have surged more than 60 percent in 2023, signalling a strong recovery. Nonetheless, the company acknowledges that there is still work to be done to regain momentum. Netflix’s audacious moves have undoubtedly paid off, cementing its position in the competitive streaming market. As the company continues to navigate this ever-evolving landscape, their ability to strike a balance between growth and profitability will be crucial to future success. What do you think about the situation with Netflix? And what will happen?

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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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