LOS GATOS (dpa-AFX) – Netflix far exceeded expectations with an increase of over 13 million customers in the last quarter. The streaming market leader now has around 260.3 million paying customer households, as the company announced on Tuesday after the US stock market closed. The continued rapid growth could further increase the pressure on smaller streaming rivals.
In recent months, Netflix has cracked down on free riders who access the service with passwords from friends or family members with whom they do not live in the same household. The numbers show that Netflix’s calculations paid off and many of the affected users remain loyal to the service, even if it costs money. Amid the crackdown on password sharing, the popularity of the cheapest subscription version with advertising rose.
Sales rose by 12.5 percent year-on-year to $8.83 billion (8.14 billion euros). That was also above analysts’ expectations. The share rose by around seven percent in after-hours trading. Profit was $938 million after $55 million in the same quarter last year./so/DP/he
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