Netflix has seen a burst of people signing up after they announced a crackdown on password sharing. The company ended June with more than 230 million subscribers, an increase of nearly six million members since earlier this year. This is after a dip of a million subscribers last year due to the increased cost of living and fierce competition.
At the same time, it is also facing challenges from ongoing strikes in the US by writers and actors, causing severe delays in productions.
Netflix’s growth in the latest quarter likely had to do with cracking down on password sharing. However, the streamer isn’t done making changes to their business model in order to attain even more of a profit this year. Recently, Netflix removed their cheapest subscription plan without ads in the US and the UK, meaning subscribers will have to pay $15.49 a month if they don’t want an ad-supported tier. It remains to be seen how this will impact Netflix’s revenue going forward.
In addition to internal changes, Netflix’s 2023 success could be impacted by the ongoing Hollywood writers and actors strikes. Because of the strikes, any Netflix original movies or TV series that has not completed production, like Stranger Things season 5, will be unable to continue until after the strikes are over. A drought of new content could see Netflix’s subscriber base dip, despite the success it’s seen in the most recent quarter.
Source: eNCA
In other news – Interesting things to know about actress Sindi Dlathu’s alleged husband, Okielant Nkosi
Well-known South African star, Sindi Dlathu has become the darling of small screens with a career spanning years, she is really that star actress we all love to hate. No doubt she has managed to keep her private life under wraps since her thrust into the limelight, leaving many to guess about her family.
The star actress is best known for her on-screen character of Lindiwe on the Mzansi Magic drama series The River. Learn more
