The world’s biggest streaming service Netflix has grown even bigger as password-sharing crackdowns and shows like Baby Reindeer and Bridgerton have driven signups.
Netflix have announced its subscriber numbers grew by eight million in the three months up to June – far surpassing the five million figure expected by analysts – as its policy to prevent multiple people from sharing one login took effect across the world.
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The clampdown came into force in the UK last May, after which subscriber numbers also soared. The policy will become less effective as the months wear on, Netflix cautioned.
Another form of revenue generating also appears to have paid off for the streaming giant as viewers of the ad-supported cheaper tier grew 34%.
Total Netflix subscriber figures now stand at 277 million.
The next revenue-raising measure being enacted by the US-based video-on-demand service is to begin streaming sports.
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Wrestling will be viewable starting in January after a partnership with WWE (World Wrestling Entertainment) comes to screens. The weekly WWE Raw show will be aired.
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Later this year, on Christmas day, live American football via the NFL (National Football League) will be streamed.
Image: Shows like Baby Reindeer have helped subscriptions soar. Pic: Netflix
New sports audiences will likely be a boon for Netflix in attracting advertisers.
Revenue had grown to $9.5bn (£7.39bn) in the three months, up 17% compared to the same time last year.
Similarly, profits grew from $1.5bn (£1.16bn) a year ago to $2.15bn (£1.16bn).
Source : Sky News
