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Netflix's Password Sharing Crackdown Backfires With Slow Subscriber Growth in Q2
Netflix reported its slowest subscriber growth in five quarters, adding only 4.82 million new subscribers from April to June, down from 9.3 million in the previous quarter, largely due to a crackdown on password sharing.
Reuters reported that the declining gains were mostly from cracking down on password sharing and viewer focus shifting to major sporting events like the Euro soccer tournament. Popular original shows such as "Bridgerton" and "Baby Reindeer" topped viewership charts in the second quarter, according to Nielsen data. Investors eagerly await the company's second-quarter results to assess its expansion efforts in the ad-supported segment and to gauge updates on new growth initiatives.
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