Netflix says subscriber numbers hit record high at 232.5 million

Goodbye, Netflix password sharing? Netflix said that its number of subscribers hit a record high 232.5 million in the first quarter of the year. Netflix also said it expects to begin rolling out its options for paid password sharing this quarter.

The streaming television giant reported a quarterly profit of $1.3 billion, in line with expectations, but said it had delayed a broad crackdown on sharing of account passwords "to improve the experience for members."

That means some membership and revenue benefits resulting from the move were postponed, Netflix said in a letter to shareholders. And while a new ad-subsidized subscription tier at Netflix is in its early days, engagement is above initial expectations and Netflix has seen "very little switching from our standard and premium plans."

Netflix also set out to nudge people watching for free with shared passwords to begin paying for the service without alienating subscribers.

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gmanews /  🏆 11. in PH

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