Netflix’s 2Q subscriber growth surges in a sign that crackdown on password sharing is paying off

By MICHAEL LIEDTKE
AP Technology Writer

SAN FRANCISCO (AP) — Netflix enjoyed its biggest springtime spurt in subscribers since the early days of the pandemic three years ago, providing the latest sign that a recent crackdown on password sharing and the rollout of a cheaper version of its video streaming service are paying off. The video streaming service added 5.9 million subscribers during the April-June period, according to numbers released Wednesday along with its latest quarterly financial results. The gains easily surpassed the roughly 2.2 million additional subscribers that analysts anticipated. The performance marked Netflix’s biggest springtime jump the service added 10 million subscribers during the same period in 2020. Netflix’s stock fell over 6% despite the subscriber gains.