SAN FRANCISCO: Netflix on Wednesday said subscriptions to the media streaming service climbed by nearly 6 million in the wake of its crackdown on password sharing.
The streaming giant finished the recently ended quarter with a total of 238 million subscribers and a profit of US$1.5 billion, according to an earnings release.
The pickup in subscribers came as a potentially crippling writers and actors strike hits the United States entertainment industry, but with analysts saying Netflix is better positioned than its rivals to weather the storm.
“We are constantly at the table negotiating with everyone across the industry,” Netflix co-chief executive Ted Sarandos said during an earnings presentation.
“We need to get to this strike to a conclusion so that we can all move forward.”
Revenue came in lower than expectations with Netflix posting $8.2 billion in sales over the…
